Which of the Following Is an Example of a Standing

question 142

Multiple Choice

Which of the following is an example of a standing plan?

• A)retail chain's plan to counter the entry of a new competitor
• B)plan developed to address an unanticipated surge in demand
• C)fire escape policy establishing practices to be followed in an emergency
• D)plan for moving into new facilities

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Definitions:

Useful Life

The estimated duration of time over which an asset is expected to be functional and generate revenue for its owner.

Annual Expected Income

An estimate of the amount of money that is anticipated to be earned over a one-year period from various sources of income.

Salvage Value

An asset's forecasted value after its period of usability has concluded.

Cost

The amount of money or resources expended to obtain an asset, service, or achieve a specific outcome.