Implementing Plans Is an Important Stage in the Planning Process

question 72

Multiple Choice

Implementing plans is an important stage in the planning process because ________.

• A) the of the plan's implementation can affect the results achieved
• B) this phase overlaps with the analysis of the firm's external environment
• C) the prioritization of objectives is undertaken during this stage
• D) the objectives to be achieved are determined during this phase

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Definitions:

Extraordinary Item

Rare and significant events that are both unusual and infrequent in nature, whose financial effects are separated out on a company's income statement to provide clearer results.

Discontinued Component

A segment or unit of a business that has been sold or terminated, which is reported separately in the financial statements.

Book Values

The net value of an asset according to its balance sheet account balance, calculated as the original cost minus accumulated depreciation, depletion, or amortization.

GAAP

The set of rules and standards designed to ensure consistency, transparency, and integrity in financial reporting and accounting practices.