Strategic Planning Focuses on Short Term Actions While Operational Planning

question 38

True/False

Strategic planning focuses on short term actions while operational planning involves developing long-term strategies.

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Definitions:

Dividends Account

An account in the general ledger that records the dividends paid out to shareholders during an accounting period.

Earnings

The net profits of a company after all expenses have been deducted from revenues.

Stockholders

Individuals or entities that own shares in a corporation, thereby having an ownership interest in the company.

Revenue Accounts

Accounts that track the income generated from normal business operations, including sales revenue, service revenue, and interest revenue.