Which of the Steps in the Formal Planning Process Involves

question 33

Multiple Choice

Which of the steps in the formal planning process involves studying past events, examining current conditions, and forecasting future trends?

• A) Situational analysis.
• B) Alternative goals and plans.
• C) Goal and plan evaluation.
• D) Goal and plan selection.
• E) Monitor and control.

---

Definitions:

Financial Crisis

A significant disruption in the flow of funds from lenders to borrowers, often characterized by a sharp decline in asset prices and the insolvency of financial institutions, leading to economic recession.

Interest Rate

The rate at which interest is paid by borrowers for the money that they borrow.

Preference for Liquidity

The desire to hold cash or easy-to-liquidate assets, often due to uncertainty or expectation of needing immediate funds.

Money Supply

The collective amount of currency and currency equivalents within an economy at a designated snapshot in time, including cash, coin forms, and savings and checking account deposits.