Regarding Forecasting,which of the Following Statements Is NOT True

question 10

Multiple Choice

Regarding forecasting,which of the following statements is NOT true?

• A) ​Operations managers need sales forecasts to plan future production.
• B) ​Financial managers need estimates of future sales revenues,disbursements & capital expenditures in order to plan effectively.
• C) ​Forecasts of credit conditions are needed to plan the cash needs of the firm.
• D) ​Public administrators and managers of NFP corporations need not forecast,since they need not make a profit.
• E) ​Both c and d are false.

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Definitions:

Creative Destruction

A concept in economics introduced by Joseph Schumpeter, referring to the process where outdated or obsolete products, services, and technologies are replaced by innovative and more efficient ones, driving economic progress.

Destroyed Industries

Sectors or markets that have suffered severe disruption or collapse, often due to technological changes, market shifts, or external disruptions.

Purely Competitive Industries

Industries in which numerous small firms compete against each other, selling identical or very similar products, and where no single firm can influence market prices.

Innovate

The process of creating new ideas, products, or methods, often resulting in improved efficiency, effectiveness, or competitive advantage.