Financial planning helps managers establish priorities by setting clear objectives and identifying the necessary resources to achieve them. By doing so, managers can allocate resources effectively and make informed decisions about where to focus their efforts.

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Financial Planning

Question 270

Multiple Choice

Financial planning:

A) Encourages managers to separate their goals from their plans.
B) Is generally based solely on the best-case scenario.
C) Generally has been found ineffective.
D) Helps managers establish priorities.
E) Prevents ﬁrms from encountering surprise events.

Correct Answer: