Which of the Following Best Describes Contingency Plans

question 34

Multiple Choice

Which of the following best describes contingency plans?

• A) They are the long-term direction and strategic intent of a company.
• B) They are a set of procedures for translating broad strategic goals and plans into specific goals and plans.
• C) They are a set of procedures that identify specific processes required at lower levels of an organization.
• D) They are an organization's basic scope and purpose of operations.
• E) They are a set of actions to be taken when events in the external environment require a sudden changE.

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Definitions:

Regular Course

Conduct or actions taken in the normal and usual manner of business or daily operations.

Appraisal Remedy

A legal recourse for shareholders, allowing them to obtain a judicial determination of the fair value of their shares when they dissent from certain corporate actions.

Attack Validity

To challenge or question the legitimacy, effectiveness, or truth of something, often used in legal contexts.

Vested Property Rights

Rights in property that are established and guaranteed, not subject to being taken away or voided, often implying an ownership interest that is fully secured and enforceable.