Chris Is Part of the Top Management of a Bank

question 48

Multiple Choice

Chris is part of the top management of a bank. He formulates a plan on how the bank will deal with its competitors and serve its customers for the next five years. In this scenario, Chris has most likely contributed to developing the bank's _____.

• A) strategic plan
• B) single-use plan
• C) tactical plan
• D) operational plan

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Definitions:

Leasehold

An interest in an asset that gives the holder the right to use it for a specified period of time, typically relating to property or land.

Lessor

The party in a lease agreement who owns the asset and grants the lessee the right to use the asset for a specified period.

Lessee

The party in a lease agreement who uses or occupies the leased asset and is obligated to pay the lease payment to the lessor.

Amortization

The method of slowly amortizing the original expense of an intangible asset throughout a specified duration.