What Is the Final Step in Preparing a Financial Plan

question 15

Multiple Choice

What is the final step in preparing a financial plan?

• A)Determine the expected level of profits for future periods
• B)A forecast of revenue over some future time period
• C)Estimate the funds needed to implement the strategies
• D)Estimate how many additional assets the company will need

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Definitions:

Cotton Farming

The agricultural practice of cultivating the cotton plant for its fibers, which are harvested and processed into textile products.

Substantial Entry Barriers

Significant obstacles that prevent or hinder new competitors from easily entering an industry or market.

Dominant Firms

Companies that possess a major share of the market and typically have considerable power to influence market conditions and prices.

Low Entry Barriers

Characteristics of a market or industry that make it easy for new companies to start operations and compete.