Asked by Alissa DeWeese on May 29, 2024
Verified
Long-range planning
A) generally presents more detailed information than an annual budget.
B) generally encompasses a longer period of time than an annual budget.
C) is usually more accurate than an annual budget.
D) is prepared on a quarterly basis if the budget is prepared on a quarterly basis.
Long-Range Planning
The process of setting long-term goals and strategies, often extending five or more years into the future.
Annual Budget
A financial plan for a year that outlines projected income and expenditure for an organization or department.
- Investigate the functions of long-term planning and its time horizon in contrast to conventional budgeting cycles.
Verified Answer
ZK
Zybrea KnightJun 01, 2024
Final Answer :
B
Explanation :
Long-range planning usually encompasses a longer period of time than an annual budget.
Learning Objectives
- Investigate the functions of long-term planning and its time horizon in contrast to conventional budgeting cycles.
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