________ Is the Process of Developing and Maintaining a Strategic

question 14

Multiple Choice

________ is the process of developing and maintaining a strategic fit between the organisation's goals and capabilities and its changing market opportunities.

• A)Strategic planning
• B)Annual market planning
• C)Short-term planning
• D)Long-range planning
• E)SBU planning

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Definitions:

Merchandise Inventory

The goods a company holds for the purpose of resale to customers.

Inventory Expense

Cost associated with goods being sold during a period, which includes the cost of purchasing and preparing items for sale.

Statement of Owner's Equity

The Statement of Owner's Equity shows changes in the equity of a business over a period, including contributions, withdrawals, and earnings.

Income Statement

A financial statement showing a company's revenues, expenses, and net income or loss over a specific period.