Which of the Following Is not a Part of the Planning

question 66

Multiple Choice

Which of the following is not a part of the planning step when building a spreadsheet model?

• A) Visualize where you want to finish.
• B) Do some calculations by hand.
• C) Sketch out a spreadsheet.
• D) Test the spreadsheet model.
• E) All of the answer choices are part of the planning step.

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Definitions:

Short Run

A period in economic analysis during which some factors of production or inputs are fixed, limiting the ability of the economy or firm to adjust.

Long Run

A timeframe in economic analysis where all inputs can be adjusted, allowing for the analysis of long-term strategic planning.

This Firm

A term often used in economic models or discussions to represent a generic company or business under analysis.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.