An Example of Contingency Planning Is When Shell Oil Generated

question 11

True/False

An example of contingency planning is when shell oil generated multiple scenarios about conditions in the world oil market that might prevail in the future,and then developed plans of what the company should do in the event that any of these scenarios actually occurred.

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Definitions:

Transposition Error

A mistake that occurs when two digits within a number are inadvertently reversed during data entry or recording.

Journal Entry

A record of a financial transaction in the accounting books.

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the financial transactions recorded.

Reference Column

A column in a table or spreadsheet used to hold information or data that aids in categorization or identification.