Which of the Following Would Be Classified as a Medium-Term

question 50

Multiple Choice

Which of the following would be classified as a medium-term goal?

• A)Saving a down payment to purchasing a house in three years
• B)Buying new clothes to begin school this month
• C)Retiring in 10 years
• D)Paying for your two-year-old child's college education

Recognize the role of work processes in organizational operations.

Apply knowledge in creating detailed job descriptions for new employees.

Distinguish between job description, job specification, and other HR documents.

Appreciate the significance of competent organizational structure and its impact on decision-making.

---

Definitions:

Revenue

The total amount of money generated by a company from its activities, such as sales of goods or services, before any expenses are subtracted.

Customers Served

The number of clients or customers a business has provided products or services to within a specific time period.

Flexible Budget

A budget that adjusts or flexes with changes in volumes or activity levels, allowing for more accurate budgeting and performance evaluation.

Variable Cost Estimates

Projections or assessments of costs that change in proportion with the level of production or activity in a business.