Which Statement Is Incorrect

question 51

Multiple Choice

Which statement is incorrect?

• A)A budget defines precise targets, e.g., level of sales, levels of inventory.
• B)A budget is expressed in monetary terms.
• C)A budget is a short-term plan.
• D)A budget summarises past information.

Comprehend the legal framework governing corporations, including key legislative acts like the Sarbanes-Oxley Act and the Revised Act.

Understand corporate governance structures, including the role of the board of directors and the audit committee.

Recognize the rights of shareholders in meetings, derivative suits, and the enforcement of claims.

Understand the concept of fiduciary duties and the business judgment rule as it applies to corporate governance.

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Definitions:

Erikson

An American developmental psychologist known for his theory on psychosocial development of human beings.

Adolescence

A developmental stage marking the transition from childhood to adulthood, characterized by numerous physical, psychological, and social changes.

Young Adulthood

A life stage between adolescence and full-fledged adulthood, typically considered to range from ages 20 to 40, marked by the pursuit of career, relationships, and independence.

Independent

Free from external control or influence; capable of thinking or acting for oneself.