Forecasting the Likely Result That Might Occur When Several Events

question 21

Multiple Choice

 Forecasting the likely result that might occur when several events and stakeholders are linked together is known as

• A) strategic review process.
• B) environmental scanning.
• C) scenario building.
• D) contingency planning.

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Definitions:

Asset

An economic resource owned or controlled by an individual or business, expected to provide future benefits.

Liability

Any financial debt or obligation that a company owes, which must be settled over time through the transfer of economic benefits including money, goods, or services.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the ownership interest of shareholders in a company.

Balance Sheet

A financial statement that presents a company’s financial position, showing assets, liabilities, and equity at a specific point in time.