Which of the following statements about long-range plans is FALSE?
A) Long-range plans provide forecasted financial statements for five to ten year periods.
B) Long-range plans guide day-to-day operations.
C) Companies coordinate long-range plans with capital budgets.
D) A decision made during long-range planning is the acquisition of a plant building.

Question

Quizplus · Accepted Answer

Long-range plans are designed to provide a strategic vision for the company over a long period of time, usually five to ten years. They are not intended to provide day-to-day guidance for operations. However, they are often used to coordinate capital investment decisions, such as the acquisition of a plant building.

Which of the Following Statements About Long-Range Plans Is FALSE