Tactical Planning in an Organization Is Usually an Intermediate-Range Plan

question 8

True/False

Tactical planning in an organization is usually an intermediate-range plan designed to develop specific means to implement the strategic plan.

---

Definitions:

Periodic Inventory System

A method of inventory valuation in which inventory levels and cost of goods sold are determined at the end of an accounting period.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and manufacturing overhead.

Gross Profit

The difference between sales revenue and the cost of goods sold.

Cost of Goods Sold

The direct monetary outlays for the creation of goods a company markets, including costs for labor and materials.