All of the following components of the planning process EXCEPT: Select one: of 1 a. Validate the mission and formulate the vision b. Develop core objectives and financial plan c. Recruit and train staff d. Assess the internal and external environment An organizational financial statement that shows its finical position usually at the end of the accounting period is called: ved Select one: of 1 a. Loss-and-Profit statement b. Balance sheet c. Income statement d. Cash fiow statement Budgeting consists of al the following steps EXCEPT: aved t of 1 Select one: a. Converting volumes to revenues 6. Projecting volume c. Converting volume to expense requirement d. Staff layoff to adjust expenses Budgeting only the changes,such as new staff to be hired or equipment to be purchased is called: Select one: a. Limited scope budgeting b. Incremental budgeting c. Zero-base budgeting d. Comprehensive budgeting Capital expenditure is the purchase of all these EXCEPT: Select one: of 1 a. Leasing equipment b. Equipment c. Buildings d. Land