Can somebody check my answers please? Im not sure about a few. If you see anything wrong with them, please let me know

1. Many new businesses are formed as a result of the entrepreneur's previous work experience, through w he or she sees ways to improve or modify a product. 2. An entrepren eur who starts his or her own business, rather than buying an existing business, avoids the undesirable precedents, policies, procedures, and legal commitments of the existing firm. ness p account and oth T cash sources. 4. A business plan helps the entrepreneur anticipate the different situations that may occur. 5. One ofthe primary functions ofabus ness plan is to serve as a selling document-selling your ideas and ev yourself to others. 6. The prospective investor usually plays the role of the encourager, often seeing market potential in a busines plan that others overlook F 7. The executive summary of a business plan presents a firm's history and its form of organization. 8. Though all financial statements are important, the cash flow statement deserves special attention. In order to achieve-market success, a firm merely needs to concentrate on either providing an excellent product/service or devising an insightful marketing strategy Most entrepreneurs have an excellent understanding of the field ofrivals against which their new venture wil compete. 9 T- -10. 7.F 11. Because of the large amounts of time, effort, and money required, only the largest of firms should consider 12. The primary factor in determining the location for a sawmill would probably be proximity to the market. F 13. Because of its complexity, modern technology has had no noticeable effect in expanding the number of F 14, The income statement shows a firm's financial position on a specific date. home-based businesses. 15 Jan wooding is considering investing in a business. To see the firm's financial time, she should look at its balance sheet position over a period of -16. A profitable company does not necessarily have positive cash flows. 17. The entrepreneur has great control over a new venture, making it easier to estimate capital requirements 18. T Liquidity represents the degree to which a firm can meet maturing short-term debt obligations with available working capital. 7 F 8 19. According to the textbook, risk is a condition in which there will be a known and adverse deviation from a Risk management and insurance management are synonymous. 20