A Difference Between Basic Financial Planning and Forecast-Based Planning Is

question 8

Multiple Choice

A difference between basic financial planning and forecast-based planning is

• A) the time horizon is shorter in forecast-based planning.
• B) forecast-based planning incorporates internal and external information.
• C) basic financial planning utilizes consultants with sophisticated techniques.
• D) basic financial planning utilizes scenarios and contingency strategies.
• E) basic financial planning relies heavily on input from lower levels in the organization.

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Definitions:

High Concern

A state of heightened focus or worry regarding a particular issue, situation, or matter that requires attention.

Democratic Leader

A leadership style characterized by sharing decision-making responsibilities among members of the group, valuing the input of team members and stakeholders.

Autocratic Leader

A leader who makes decisions unilaterally without consulting others, often exerting high levels of control over all aspects of a group or organization.

Skills And Capabilities

The combination of abilities and learned knowledge that individuals or organizations possess, which can be applied to perform tasks effectively.