Which of the Following Is NOT Correct Regarding the Importance

question 75

Multiple Choice

Which of the following is NOT correct regarding the importance of planning?

• A) Planning is important for staying ahead of the competition.
• B) Planning helps an organisation become better at what it does.
• C) Planning eliminates the need for effective leadership.
• D) Planning is central to the management process.
• E) Planning helps an organisation to be action oriented.

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Definitions:

Income Tax Expense

The amount of income taxes a company expects to pay for the current tax year, accounting for deferred taxes.

Book Income Before Income Tax

The income that a company reports on its financial statements before the deduction of income tax expenses.

Tax Depreciation

The depreciation expense allowed by tax authorities to account for the reduction in value of a tangible asset over its useful life, intended to provide a tax shield for businesses.

Book Depreciation

The portion of an asset's initial cost that is allocated as an expense over its useful life on the financial statements, according to accounting standards.