A Response That Occurs When Events in the Environment Have

question 25

Multiple Choice

A response that occurs when events in the environment have already affected the firm's performance is called

• A)performance change.
• B)reactive change.
• C)internal change.
• D)total organization change.
• E)external change.

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Definitions:

Sales Forecast

An estimate of the amount of sales that a business expects to achieve in a future period.

Finished Goods Inventory

Finished Goods Inventory consists of all completed products that are ready for sale but have not been sold yet.

Production Units

The measurable amount of goods or services produced over a specific period of time.

Master Budgeting

A comprehensive financial planning document that encompasses all of a company’s budgets, including sales, production, and financial budgets.