True/False Questions:

20. Although the Executive Summary comes in the beginning of a completed business plan, it should be written last in the process of preparing the plan.

21. In sole proprietorship, the sole responsibility would most likely weigh heavily on one person, and may cause the owner-manager to burn out.

22. Legal contracts between business partners are not required by law but it is strongly recommended by experts.

23. The Contribution Margin can be measured by the amount of loss the firm would incur on each unit produced below the break-even point.

24. Higher efficiency would be achieved by a combination of higher total asset turnover and lower net profit margin.