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A formal written statement describing a new business idea and how it will be carried out is a:
ABusiness permit
BBusiness patent
CBusiness parcel
DBusiness plan
Answer & Solution
Correct answer: D. Business plan
1. It covers the market and the finances.
2. The owner's qualifications appear in it.
3. It is a business plan.
_Source: OpenStax Introduction to Business, Chapter 5, Entrepreneurship: Starting and Managing Your Own Business._
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