Which of the Following Is NOT One of the Steps

question 11

Multiple Choice

Which of the following is NOT one of the steps taken in the financial planning process?

• A) Forecast the funds that will be generated internally. If internal funds are insufficient to cover the required new investment, then identify sources from which the required external capital can be raised.
• B) Monitor operations after implementing the plan to spot any deviations and then take corrective actions.
• C) Determine the amount of capital that will be needed to support the plan.
• D) Develop a set of forecasted financial statements under alternative versions of the operating plan in order to analyze the effects of different operating procedures on projected profits and financial ratios.
• E) Consult with key competitors about the optimal set of prices to charge, i.e., the prices that will maximize profits for our firm and its competitors.

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Definitions:

Leadership Development

The process of enhancing an individual's skills, abilities, and confidence to effectively lead others.

Decision Time Factor

The aspect of timing that influences the making of decisions, impacting the selection process and outcomes based on constraints or deadlines.

Decision-Making Methods

are systematic techniques used to choose among alternatives and make informed choices.

Authority Decision

A decision made by the leader and then communicated to the group.