Which of the Following Statements About a Vision and Mission

question 77

Multiple Choice

Which of the following statements about a vision and mission is true?

• A) A firm's vision is more concrete than its mission.
• B) The mission points the firm in the direction of where it would like to be in the years to come.
• C) A vision statement should be clearly tied to the conditions in the firm's external environment and internal organization.
• D) The mission deals more directly with capital markets.

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Definitions:

Debits and Credits

Accounting terms used to record changes in accounts, where debits are entries on the left side of an account and credits are entries on the right.

Adjusting Entries

Journal entries made at the end of an accounting period to update accounts for accuracies in preparation for financial reporting.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent ones.

End-Of-Period Spreadsheet

A document used in accounting to compile all balance sheet and income statement accounts at the end of a reporting period.