Morgan's Transition Morgan Is Currently a Manager of a Small Financial Planning

question 97

Multiple Choice

Morgan's Transition
Morgan is currently a manager of a small financial planning firm. He is seeking a new career with a large corporation in the banking industry. He recently applied for the financial manager opening at G & T Bank. He is concerned that the transition from his small firm to a large corporation will be difficult. To better prepare himself for this change, he has decided to enroll in a few business classes to strengthen his understanding of corporate finance. The business classes have proven to be a valuable tool for learning the critical skills needed to fully understand a financial plan, equity financing, and debt financing. Morgan now believes he has strengthened his competitive advantage in his quest for the job.
-Refer to Morgan's Transition. When Morgan creates a financial plan, his first step should be which of the following?

• A) Identify available sources of financing.
• B) Decide which goals to finance.
• C) Describe which type of financing to use.
• D) Establish a set of valid goals.
• E) Determine how much money is needed to accomplish each goal.

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Definitions:

Social Interest

A concept developed by Alfred Adler referring to an individual's inclination towards healthily integrating and cooperating within society.

Superiority Complex

An attitude of superiority that conceals actual feelings of inferiority and failure.

Exaggerated Opinion

A belief or judgment that goes beyond the evidence or facts, typically more extreme or stronger than what is warranted.

Inferiority Complex

A psychological condition where a person believes they are less worthy, capable, or significant than others, often leading to overcompensation or withdrawal.