Strategic Planning Is the Process of Envisioning the Organization's Future

question 33

True/False

Strategic planning is the process of envisioning the organization's future and developing the necessary goals,objectives,and action plans to achieve that future.

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Definitions:

Worksheet

A document or file used for organizing and planning finances, calculations, or data analysis, often used in accounting and Excel.

Temporary Accounts

Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts.

Zero Balances

Accounts in financial statements that have no outstanding balance or value at a given point in time.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts, preparing the books for the next accounting period.