Organizations Use the Three Types of Forecasting to Make Decisions

question 73

True/False

Organizations use the three types of forecasting to make decisions regarding the future: trend analysis,scenario development,and contingency planning.

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Definitions:

Expired Insurance

The portion of an insurance premium that has been used up during the term of the policy and is therefore no longer in effect.

Assets

Resources owned by a company, providing future economic benefits, including cash, inventory, and property.

Inadvertently Omitted

Accidentally left out or not included, typically referring to information or details that were missed unintentionally.

Depreciation Expense

The allocation of the cost of a tangible fixed asset over its useful life, reflecting the decrease in value over time.