Shawn Is Doing Some Budgeting for His New Start-Up Business

question 52

Multiple Choice

Shawn is doing some budgeting for his new start-up business. He has developed a budget in Excel using formulas, as he was taught to do in college. He is fairly confident about his estimated expenses. He is also sure that his current price is the best price he can get for his product. He would like to know how many units he needs to sell at that price (and his cost per product from his supplier) to cover his expenses. Shawn will be doing:

• A)What-if analysis
• B)Qualitative analysis
• C)Sensitivity analysis
• D)Goal-seeking analysis
• E)A simulation.

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Definitions:

Successful Implementation

Achieving desired outcomes and meeting predefined goals through careful execution of a plan or project.

Organizational Goals

Specific objectives set by a business to guide and motivate employees towards achieving the organization's long-term vision.

Financial Targets

Financial targets refer to specific financial goals or benchmarks that a company aims to achieve, such as revenue, profit margins, or return on investment.

Top Management

The highest level of managers in an organization, responsible for the overall direction and strategy.