The Process of Creating a Formal Plan and Translating Goals

question 3

Multiple Choice

The process of creating a formal plan and translating goals into a quantitative format is (CMA adapted)

• A)budgeting.
• B)benchmarking.
• C)cost-benefit analysis.
• D)value-added analysis.
• E)activity-based costing.

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Definitions:

Principles-Based

An approach to accounting and regulation that emphasizes general guidelines and values to govern behavior rather than precise rules.

Internal Control Standards

The policies and procedures implemented by a company to ensure the integrity of financial and operational information, promote accountability, and prevent fraud.

Sarbanes-Oxley

The Sarbanes-Oxley Act is a U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to securities laws, and to prevent corporate and accounting fraud.

U.S. Exchanges

Marketplaces in the United States where securities, options, and futures are traded.