________ Is the First, or "Big Picture," Level of Planning

question 50

Multiple Choice

________ is the first, or "big picture," level of planning.

• A) Strategic planning
• B) Functional planning
• C) Operational planning
• D) Product development
• E) Business planning

---

Definitions:

General Journal

A primary accounting record used to record all types of transactions except for those related to specific tasks, such as sales or purchases, which have their own journals.

General Ledger Control Account

A General Ledger Control Account is a summary account that consolidates the total balances of all accounts in a subsidiary ledger, used to maintain integrity in financial reporting.

Subsidiary Ledger

A detailed ledger that contains the individual accounts with a common characteristic, supporting entries recorded in a general ledger.

Accounting Period

The span of time at the end of which a company's financial statements are prepared, typically a quarter or year.