_____ Involves Identifying Several Possible Future Situations or States of Affairs

question 113

Multiple Choice

_____ involves identifying several possible future situations or states of affairs and then making plans to deal with each situation should it actually occur.

• A) Scenario planning
• B) External benchmarking
• C) Forecasting
• D) Staff planning
• E) Internal benchmarking

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Definitions:

Deductible Contribution

A contribution, typically to a retirement account, that can be subtracted from gross income to reduce taxable income.

Employer-sponsored Plans

Retirement or insurance plans offered to employees by their employer as a part of their benefits package.

Individual-based Plans

Retirement or savings plans that are established by individuals to save for retirement, distinct from employer-sponsored plans.

Retirement Plan Distributions

Payments made from a retirement plan, which may include pensions, 401(k)s, or IRA distributions, and can be taxable or tax-free, depending on the plan.