Which of the following statements about the financial planning process are true?$$Check all that apply.

Management must monitor operations after implementing a financial plan to detect deviations from the plan and adjust accordingly.

Once a firm$$s forecasted financial statements are prepared, the firm must determine how much capital it will need to support these plans.

Firms should use a performance$-$based management compensation system that is based on a manager$$s ability to achieve short$-$run success.