An Organization Is in the Process of Goal Setting

question 92

Multiple Choice

An organization is in the process of goal setting. It has finished reviewing the organization's mission. What should it do next?

• A) determine the goals individually or with input from others
• B) write down the goals and communicate them to all who need to know
• C) evaluate available resources
• D) review results and whether goals are being met

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Definitions:

Monetary Unit Assumption

An accounting principle that assumes transactions and events can be expressed in monetary units.

Dollar Amounts

Units of currency used in financial transactions or accounting to represent values or costs.

Fair Value

The value that could be gained from the sale of an asset or the expense of transferring a liability, in a regulated transaction among market players on the date of assessment.

Asset Acquired

An item of economic value obtained by a company, expected to provide future benefit by generating cash flows or reducing expenses.