Directional Plans Provide ________,While Specific Plans Provide ________

question 87

Multiple Choice

Directional plans provide ________,while specific plans provide ________.

• A)clarity; flexibility
• B)flexibility; clarity
• C)urgency; flexibility
• D)specificity; urgency

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Definitions:

Amortization

The process of spreading out a loan or intangible asset cost over a fixed period, for accounting and taxation purposes, allowing for a reduction in reported income.

Subsidiary Loss

Financial losses incurred by a subsidiary, which may impact the financial position and results of the parent company.

Deferred Tax Liability

A tax obligation due in the future for income that has been recognized in the financial statements before it is taxable.

Inventory

The raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.