A Key Difference Between a Marketing Plan and a Business

question 5

Multiple Choice

A key difference between a marketing plan and a business plans is that

• A) a marketing plan is used for consumer products and a business plan is used for industrial products.
• B) a marketing plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the organization.
• C) a business plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the organization.
• D) a marketing plan covers a greater length of time for its financial projections.
• E) a business plan covers a greater length of time for its financial projections.

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Definitions:

ASPE

Accounting Standards for Private Enterprises; a set of accounting standards for private companies in Canada, focusing on simplicity and cost-effectiveness.

Accounts Receivable

Accounts receivable represents money owed to a company by customers for products or services delivered but not yet paid for.

Operating Activities

Activities that relate to a company’s primary business operations, including revenue and expense transactions affecting net income.

Interest

The cost of borrowing money, typically expressed as an annual percentage of the principal loan amount.