A Certain Chicken Company Decides That It Will Become the Market

question 52

Multiple Choice

A certain chicken company decides that it will become the market leader in the poultry business in five years with a 40 percent share of the market. This statement would be classified as a(n)

• A) objective.
• B) mission.
• C) strategy.
• D) operational plan.
• E) goal.

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Definitions:

Plan Assets

Assets set aside to meet future obligations, typically used in pension and retirement plans.

Pension Asset

An asset on the balance sheet, representing the company's surplus or prepaid contributions in its pension fund.

Journal Entries

Journal entries are the formal accounting record of financial transactions in the order they occur in a company’s financial system.

Pension Expense

The annual cost recognized by an employer for the benefits earned by employees in the employer-sponsored pension plan during the year.