Financial managers identify three steps to financial planning.Which of the following is not one of the three key steps to financial planning?
A)Preparing the income statement and balance sheet.
B)Establishing financial control to see how well the company is following the financial plans.
C)Forecasting both short-term and long-term financial needs.
D)Developing budgets to meet anticipated needs.

Question

Quizplus · Accepted Answer

While income statements and balance sheets are important financial documents, they are not considered key steps in financial planning. The three key steps to financial planning include forecasting financial needs, developing budgets, and establishing financial control to monitor progress towards meeting those needs.

Financial Managers Identify Three Steps to Financial Planning