Regarding Goals and Objectives, Which of the Following Statements Is

question 61

Multiple Choice

Regarding goals and objectives, which of the following statements is most accurate?

• A) Objectives convert an organization's mission and business into long- and short-term performance targets.
• B) Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program.
• C) A company's goals and objectives are often worthy in intent, but unrealistic in practice because they are rarely accomplished during the specified time period.
• D) Goal-setting only applies to business firms; nonprofit organizations typically do not set goals because they don't earn a profit.
• E) The terms goal and objective should not be used interchangeably. Goals are philosophical while objectives are performance-based.

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded by a company, representing obligations that exist at the balance sheet date.

Accounts Payable

Liabilities of a business that represent its obligations to pay for goods or services it has received but not yet paid for.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services provided on credit.

Statement of Cash Flows

A financial report detailing the cash inflows and outflows from operating, investing, and financing activities of a company over a period.