Developing a Pricing Policy Based on Organizational Goals,objectives,and Strategic Plans

question 61

Multiple Choice

Developing a pricing policy based on organizational goals,objectives,and strategic plans falls under which stage of the management process?

• A)Planning
• B)Performing
• C)Evaluating
• D)Communicating

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Definitions:

360-Day Year

A simplified approach used in some financial calculations where the year is assumed to have 360 days instead of 365 or 366, to facilitate easier interest calculations.

Note

A financial instrument that represents a promise to pay a specific amount of money at a future date or upon demand.

Notes Issued

Financial obligations in the form of promissory notes that a company issues to creditors or investors to raise capital.

Account Payable

Liabilities to suppliers or creditors for goods or services received that have not yet been paid for.