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MindTap . Cengage Learning-Google Chrome ngcengage.com/static/nb/ui/index.html?nbld-722371 &nbNodeld;=2721 56373&deploymentid;=557527181 3006876556614708144&eISBN;:9780176596583#!&parentid;=272156427 MINDTAP Yashan Sharda (? From Congag 0 Chapter 5: Aplia Homework Due on Tomorrow at 11:59 PM MST Attempts 1. Overview of financial planning Match the terms on the left with their correct descriptions on the right in the following table. Keep the Highest Terms Descriptions Declares the firm's general philosophy and overall mission Defines the company's linef(s) of business and A-Z its geographic area of operations Sets forth specific goals or targets to help operating managers focus on the firm's primary objectives Which of the following statements about the financial planning process are true? Check all that apply Firms should use a performance-based management compensation system that is based on a manager's ability to achieve short-run success. The firm will need to calculate the amount of funds it will be able to generate internally. If that is not enough capital to support the financial plan, the firm will need to raise extemal funds to support the financial plan or the plan l have to be revised to focus on the highest value opportunities. Management must monitor operations after implementing a financial plan to detect deviations from the plan and adjust accordingly O Type here to search 3-21 PM 1/27/2018 2

Explanation / Answer

Both Second and third statement are correct.

First statement is incorrect becuase performance based compensation system should align with the long-term goals of the company not short term goals.

For terms, post the terms as they are not visible.

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