Assertion(A)- A financial plan describes the proposed venture's opted form of ownership. Reason(R)- The entrepreneur should prepare a sound financial plan describing the sources of raising funds.

Both A and R are true. R is the correct explanation of A Both A and R are true, but R is not the correct explanation of A A is correct, but R is incorrect A is incorrect, but R is correct

A is incorrect, but R is correct

A is incorrect, but R is correct. Financial plan is a projection of key financial data about: a) The potential investment commitment needed for the new venture, and b) Economic feasibility of the enterprise