How Does Long-Range Planning Compare to a Master Budget

question 113

Multiple Choice

How does long-range planning compare to a master budget?

• A)It focuses on meeting profit objectives instead of strategies to achieve those goals.
• B)It is less detailed than an annual budget.
• C)It is prepared by the president, unlike a master budget which is prepared by a budget committee.
• D)It generally encompasses a shorter period of time than a master budget.