In the First Step of the Planning Process, as You

question 26

Multiple Choice

In the first step of the planning process, as you examine a region's social atmosphere, you should take note of its "people resources," which means __________________.

• A) assessing the level of education in the population
• B) reviewing the cultural differences found in the region
• C) identifying those individuals with artistic, cultural, or tourism-related abilities
• D) eliminating opposition and focusing on community pride

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Definitions:

Net Operating Income

The profit derived from a company's regular business operations, excluding deductions of taxes and interest expenses.

Revenue And Spending Variances

The differences between the actual and budgeted amounts of revenue and expenses.

Flexible Budget

A financial plan that adjusts or varies with changes in volume or activity.

Spending Variance

The difference between the budgeted amount of expenditure and the actual amount spent.