A contingency plan is there to help the entrepreneur be prepared if there are problems or if an emergency occurs.The plan needs to focus on specific details for controlling the most fundamental aspects of running the organization: cash flow,accounts receivables,________ and ________.

Question

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Contingency plans are designed to help manage unforeseen issues effectively. Focusing on costs and debt is crucial as these areas directly impact an organization's financial health and ability to respond to emergencies or problems. Managing costs ensures that the business can maintain operations during tough times, while managing debt is essential to prevent financial crises. Potential sales and market penetration, while important for growth, are not as immediately critical for emergency or problem management as costs and debt.

A Contingency Plan Is There to Help the Entrepreneur Be