Which of the Following Steps in the Basic Planning Process

question 116

Multiple Choice

Which of the following steps in the basic planning process does the CEO perform when he closely watches the sales structures in the next six months?

• A)Monitor and control
• B)Implementation
• C)Situational analysis
• D)Goal and plan evaluation
• E)Goal and plan selection

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Definitions:

Budgeted Sales

Projected or planned sales for a future period, often used for planning and financial forecasting.

Master Budget

A comprehensive financial plan for an organization, including all individual budgets related to sales, production, overheads, etc., for a specific period.

Direct Labor

The wages and salaries for the workers who are directly involved in the production of goods, easily traceable to the product.

Credit Sales

Sales made by a business where the payment is deferred, allowing the buyer to pay at a later date.