New Jersey FBLA State Officer Practice Test 2026 – 400 Free Practice Questions to Pass the Exam

The Business Plan event is categorized as either an individual or a team event consisting of less than three members. This flexibility allows participants to choose how they want to present their business plan, accommodating different levels of collaboration.

In practice, this means that a participant can work alone to develop and present a business plan, showcasing their own skills and knowledge, or they can collaborate with one or two peers to enhance the project with diverse ideas and strengths. This format encourages a variety of approaches and experiences, reflecting the competitive landscape of business practices where both solo entrepreneurs and small teams commonly exist.

The other options do not capture this dual nature of the event. It isn't limited solely to individuals or small teams, nor does it apply to all teams regardless of size. Thus, the correct categorization highlights the versatility of the Business Plan event in fostering entrepreneurship among different participant setups.