Considerable Time and Effort Should Be Devoted to Assuring Objectives

question 38

Multiple Choice

Considerable time and effort should be devoted to assuring objectives are well conceived because they represent the basis for

• A) monitoring progress toward long-term objectives.
• B) establishing divisional priorities.
• C) allocating resources.
• D) evaluating managers.
• E) all of the above

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Definitions:

Collectively Exhaustive

Refers to a set of events that covers all possible outcomes, ensuring that no possibilities are left out.

Equally Likely

A term used in probability to describe outcomes that have the same chance of occurring.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Mutually Exclusive

Referring to events that cannot both occur at the same time, implying no overlap in their possible outcomes.