Which of the following statements is true about business plans?

	A business plan is useful only in case of exigency in the business environment otherwise a business plan is not important.
	A well-prepared business plan always avoids contingent liabilities as the plan helps to predict and change the occurrence of a contingent liability.
	A well-prepared business plan makes it easier for an entrepreneur to communicate to potential investors precisely what returns an investor might expect to receive.
	A business plan is a trivial part in the overall strategy formulation and its impact on business operations in the long run is miniscule.