Which of the Following Statements About Contingency Plans Is NOT

question 77

Multiple Choice

Which of the following statements about contingency plans is NOT true?

• A) Contingency plans should be as simple as possible.
• B) Only high-priority areas require the insurance of contingency plans.
• C) Contingency plans should be developed for favorable and unfavorable events.
• D) Strategists should plan for all possible contingencies.
• E) Contingency plans minimize the impact of potential threats.

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Definitions:

Buildings Account

An account on the balance sheet that records the cost and depreciation of physical structures owned by a business.

Unamortized Patent

The portion of a patent's purchase cost that has not yet been expensed in the company's financial statements.

Patent Account

An account on the balance sheet that represents the value of patents a company owns, which are intangible assets.