Define planning. List and briefly discuss a planning tool that managers can use
What will be an ideal response
Planning is the process of choosing goals and deciding how to achieve them. The budget is a common planning tool. The budget shows the expected financial impact of decisions and helps identify the resources needed to achieve goals.
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Mrs. Smith has worked for Arcco Inc. for 20 years without taking a vacation. An internal control feature that would address this situation would be
a. other controls. b. establishment of responsibility. c. physical controls. d. documentation procedures.
A buyer defaulted on a real property installment sales contract that had been recorded by the seller. If a quitclaim deed were to be used to extinguish the cloud on the title, it must be executed by:
A: Both buyer and seller; B: Seller only; C: Buyer only; D: None of the above.