(CMA Adapted) the Process of Creating a Financial Plan of the Revenues

question 124

Multiple Choice

(CMA adapted) The process of creating a financial plan of the revenues and resources needed to carry out activities and meet financial goals is referred to as:

• A) budgeting.
• B) benchmarking.
• C) cost-benefit analysis.
• D) value-added analysis.

---

Definitions:

RRSP

A Registered Retirement Savings Plan, a tax-deferred retirement savings account available in Canada.

Annuity

A financial instrument designed to offer a steady flow of income to someone, mainly used for retirement purposes.

Quarterly

Pertaining to something that occurs every three months or four times a year.

Life Annuity

An insurance product that guarantees regular payments to the annuitant for life, in exchange for an initial investment.