Which of the Following Statements About Single-Use Plans Is True

question 162

Multiple Choice

Which of the following statements about single-use plans is true?

• A) Single-use plans are developed to achieve a set of goals that are not likely to be repeated in the future.
• B) Single-use plans are used to provide guidance for tasks or situations that occur repeatedly within the organization.
• C) Single-use plans define company responses to be taken in the case of emergencies, setbacks, or unexpected conditions.
• D) Single-use plans are more important than standing plans in organizations.
• E) The primary single-use plans are organizational policies, rules, and procedures.

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Definitions:

Interest Revenue

Income earned from lending money or investments in interest-bearing financial instruments.

Contract Rate

The interest rate stated in a contract, such as a loan or lease agreement.

Semiannually

Occurring or conducted twice a year.

Retired the Bonds

Retired the bonds means that a company has paid off the principal amount of the bonds before or at maturity, effectively extinguishing the debt.