_____ Involves Looking at Trends and Discontinuities and Imagining Possible

question 12

Multiple Choice

_____ involves looking at trends and discontinuities and imagining possible alternative futures to build a framework within which unexpected future events can be managed.

• A) Scenario building
• B) Crisis planning
• C) Contingency planning
• D) Trend management
• E) Caution planning

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Definitions:

Internal Control

Systems and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Cash Shortages

The situation where the cash on hand is less than the expected amount, often indicating errors or theft.

Accounts Payable

Liabilities of a business that represent amounts owed to creditors for goods and services purchased on credit.

Cash Account

An account that records all transactions involving cash inflows and outflows.