_____ Refers to Planning for Unexpected Events, Usually Involving a Range

question 24

Multiple Choice

_____ refers to planning for unexpected events, usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans.

• A)Strategic planning
• B)Tactical planning
• C)Operational planning
• D)Contingency planning

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Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for.

Notes Receivable

Notes receivable are written promises for amounts to be received, typically detailing the interest rate and when the principal and interest payments are due.

Claims

Demands for payments or property ownership typically made through legal or financial processes by creditors or insurers.

Subsidiary Ledger

A detailed ledger that contains the individual accounts related to a specific main account, facilitating detailed tracking and reconciliation.