Which of the Following Is True of the Mission Statement

question 108

Multiple Choice

Which of the following is true of the mission statement of a company?

• A)It does not discuss the fundamental business issues of the company.
• B)It specifically describes the financial performance of the company.
• C)It is a specific description of the firm's profits and losses.
• D)It does not describe what the firm needs to do or accomplish.
• E)It broadly describes the scope of activities that the company is planning to undertake.

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Definitions:

Online Banking

A service provided by banks that allows customers to perform financial transactions remotely via the internet.

Entry Barrier

Product or service feature that customers expect from organizations in a certain industry; an organization trying to enter this market must provide this product or service at a minimum to be able to compete.

Bank

A financial institution licensed to receive deposits, offer loans, and provide various financial services to individuals and businesses.

Buyer Power

The influence that customers have over a producing industry, often determining the market value and ensuring that services and products meet their needs.