A Goal That You Expect to Achieve in 2 to 5

question 102

Multiple Choice

A goal that you expect to achieve in 2 to 5 years is a(n) _____.

• A)short-term goal
• B)generally unachievable
• C)intermediate-term goal
• D)long-term goal

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Definitions:

Bankruptcy Proceeding

The formal legal process initiated after filing for bankruptcy that involves resolving the debtor's financial obligations.

Distribution of Assets

The process of allocating assets among beneficiaries, heirs, or other designated parties, usually following a legal procedure like a will or bankruptcy.

Administrative Expenses

Costs associated with the general operation of a business, such as salaries, rent, and utilities, not directly tied to producing goods or services.

Financial Distress Costs

Costs associated with a company's financial trouble leading to bankruptcy or restructuring, including legal fees, loss of goodwill, and disruption of operations.