Asked by Shavon Revell on Apr 29, 2024
Verified
Financial plans that focus on projections no more than a year or two in the future are known as strategic plans.
Strategic Plans
Long-term organizational plans that outline goals, objectives, and actions designed to achieve a competitive advantage and meet stakeholders' expectations.
Financial Plans
Detailed documents that outline an individual's or organization's present financial situation, future goals, and strategies to achieve those goals, including budgeting, investments, and risk management.
Projections
Estimates or forecasts of future financial performance or trends, often based on current data and assumptions.
- Identify the crucial aspects of financial planning, regulation, and prognostication in corporate financial activities.
Verified Answer
ZK
Zybrea KnightMay 03, 2024
Final Answer :
False
Explanation :
Strategic plans typically focus on long-term goals and strategies, often spanning three to five years or more, whereas short-term financial plans are usually referred to as operational or tactical plans.
Learning Objectives
- Identify the crucial aspects of financial planning, regulation, and prognostication in corporate financial activities.