As the Managers Plan for the Future, They Want to Be

question 39

Multiple Choice

As the managers plan for the future, they want to be able to handle unexpected circumstances.They are developing backup plans with alternative courses of action in case conditions change.This is an example of

• A)a standing plan.
• B)scenario planning.
• C)long-term planning.
• D)short-term planning.
• E)a rolling plan.

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Definitions:

Installments

Payments divided into smaller, manageable parts over a set period, allowing for the purchase of goods or repayment of loans.

Truth in Lending Act

A U.S. federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and cost.

Discretion

The quality of behaving or speaking in such a way as to avoid causing offense or revealing confidential information.

Certified Check

A payer’s check written and signed by the payer, which is stamped “certified” by the bank. The bank has already drawn money from the payer’s account to guarantee that the check will be paid.