Which of the Following Is NOT One of the Steps

question 11

Multiple Choice

Which of the following is NOT one of the steps taken in the financial planning process?

• A) Forecast the funds that will be generated internally. If internal funds are insufficient to cover the required new investment, then identify sources from which the required external capital can be raised.
• B) Monitor operations after implementing the plan to spot any deviations and then take corrective actions.
• C) Determine the amount of capital that will be needed to support the plan.
• D) Develop a set of forecasted financial statements under alternative versions of the operating plan in order to analyze the effects of different operating procedures on projected profits and financial ratios.
• E) Consult with key competitors about the optimal set of prices to charge, i.e., the prices that will maximize profits for our firm and its competitors.

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Definitions:

Adaptation

The process of adjusting or changing to fit new conditions or environments, often through learning or evolution.

Information Triage

The process of prioritizing information based on urgency and importance, to efficiently manage and respond to data.

Social Decentering

Cognitive process in which we take into account another person’s thoughts, feelings, values, background, and perspective.

Information Overload

is a condition where an individual is exposed to more information than they can process, leading to overwhelm or decision-making difficulties.