The First Step in the Financial Planning Process Is

question 130

Multiple Choice

The first step in the financial planning process is

• A) forecasting financial needs.
• B) preparing financial statements.
• C) developing budgets.
• D) establishing financial control.

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Definitions:

Strategic Objectives

Targets or goals that an organization aims to achieve, which are designed to further its long-term interests.

CSR Efforts

Corporate social responsibility efforts entail voluntary activities undertaken by a company to operate in an economic, social, and environmentally sustainable manner.

Social Well-Being

Social well-being involves the overall health, happiness, and quality of life of a community or society, focusing on the well-being of individuals and groups.

Globally Focused

Referring to businesses or strategies that target markets, customers, and operations beyond a single country, aiming for international reach and impact.