For Efficiency of Operations and Better Control Over Cash, a Company

question 180

True/False

For efficiency of operations and better control over cash, a company should maintain only one bank account.

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Definitions:

Strategic Planning

A structured approach to imagining a preferred future and converting this dream into general goals or targets, along with a series of actions to reach these goals.

Social Responsibility

The ethical framework suggesting that individuals and companies have a duty to act in the best interest of their environment and society as a whole.

Crisis Situation

An urgent, high-stakes challenge or emergency that demands immediate and strategic response from an organization.

Strategic Planning Principles

Guiding concepts for developing strategies that align with an organization's mission, vision, and goals while being responsive to the external environment.