Terms "Goal" and "Objective" Are Often Used Interchangeably

question 278

Multiple Choice

terms "goal" and "objective" are often used interchangeably.However,in both cases,which of the following statements would be most accurate?

• A) Goals convert an organization's mission and business into long- and short-term performance targets.
• B) Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program.
• C) A company's goals and objectives are often laudable (worthy) in intent, but unrealistic in practice because they are never accomplished during the specified time period.
• D) Goal-setting only applies to business firms; nonprofit organizations typically do not set goals because they don't earn a profit.
• E) The terms goal and objective are NOT used interchangeably. Goals are philosophical while objectives are performance-based.

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Definitions:

Inventory Account

An account in the general ledger that tracks the value of a company's products that are intended for sale.

Time Sheet

A document or tool used to track the number of hours worked by an employee during a specific period.

Opening Adjusting Entries

Opening adjusting entries refer to journal entries made at the beginning of an accounting period to adjust account balances from a previous period.

Capital Stock

Represents the equity or ownership sections of a corporation divided into shares.