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In general terms, what is a financial plan and why is it important? Briefly explain a Break-even Analysis and why it would be useful for

  1. In general terms, what is a financial plan and why is it important? Briefly explain a Break-even Analysis and why it would be useful for an entrepreneur launching a new venture.

  2. Ratio Analysis is a common tool for assessing the financial well-being of a firm. Provide a brief overview of the major types of ratios and their usefulness for entrepreneurs.

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