The Purpose of Developing an Action Plan in Goal Setting

question 18

Multiple Choice

The purpose of developing an action plan in goal setting is to ________.

• A)describe a method for reaching the goal
• B)establish rewards for attaining the goal
• C)establish penalties for not attaining the goal
• D)regulate the difficulty of the goal

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Definitions:

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Service Revenue

Income earned by a company through the provision of services to customers or clients.

Notes Payable

A written promise to pay a specified amount of money, along with interest, by a certain date.

Interest Expense

Expenses that a company faces for using borrowed capital, usually shown on the profit and loss statement.