Financial Managers Identify Three Steps to Financial Planning

question 99

Multiple Choice

Financial managers identify three steps to financial planning.Which of the following is not one of the three key steps to financial planning?

• A)Forecasting both short-term and long-term financial needs.
• B)Developing budgets to meet anticipated needs.
• C)Preparing the income statement and balance sheet.
• D)Establishing financial control to see how well the company is following the financial plans.

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Definitions:

Self-Efficacy Theory

A psychological theory proposing that individuals' belief in their ability to perform a task influences their motivation and performance in that task.

Externally Imposed Goals

Objectives or targets set by outside entities, such as regulators or parent companies, that an organization needs to achieve.

Supervisors

Individuals in a position of authority responsible for overseeing the work of others and ensuring tasks are completed effectively.

Adequately Supported

Refers to having sufficient resources, information, and encouragement to effectively complete tasks or achieve goals.