Each of the following numbered items is an example of one of the three kinds of planning.
Question:
Required:
Identify each numbered item as A, B, or C.
A = an example of a short-range plan
B = an example of a long-range plan
C = an example of a strategic plan
(1) A forecast made in 1999 of total sales expected in the years 2000, 2001, and 2002
(2) The number of units of product expected to be sold in the next year
(3) A plan for discontinuing one of the two divisions of the company
(4) Estimates of quarterly net income for the remaining three quarters of the current year
(5) A plan to be the first company to establish a biomedical research lab on an orbiting space station
(6) A 1998 sinking-fund agreement calling for annual cash deposits sufficient to retire outstanding bonds that will mature in the year 2008
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1 B 2 A 3 C 4 A 5 C 6 Balthough the time frame involved in this ...View the full answer
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