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Profit Planning

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The term planning involves:

the development of future objectives and the preparation of various budgets to achieve these objectives.
the steps taken to ensure that objectives set down by management are attained.
the steps taken to ensure that all parts of the organization function in a manner consistent with organizational policies.
comparing budgeted and actual results and taking steps to remedy unacceptable variations.

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (A)

the development of future objectives and the preparation of various budgets to achieve these objectives.

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