Management Needs to Be Prepared to Deal with Problems and Seize

question 123

Multiple Choice

Management needs to be prepared to deal with problems and seize opportunities as they arise.A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan.These are called _____ plans.

• A)functional
• B)participative
• C)procedural
• D)technical
• E)contingency

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Definitions:

Dishonored Checks

Checks that a bank refuses to pay or cash, typically because the account holder has insufficient funds.

Dishonor

In the context of finance, refers to the refusal or inability of a party to pay a debt when it is due.

Instrument

A formal legal document, such as a contract, will, promissory note, or warrant, that establishes rights, privileges, or liabilities.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date.