Jerrica, a finance manager at LRV industries, is asked by her boss to develop a plan in the event that company sales drop by 20 percent or more. This type of plan is known as a _____.
A) contingency plan
B) financial plan
C) crisis plan
D) consumer protection plan
E) environmental plan

Question

Quizplus · Accepted Answer

A contingency plan is a plan that outlines a course of action to be taken if a specific event occurs, such as a significant drop in sales. It is designed to mitigate the impact of potential future events and ensure business continuity.

Jerrica, a Finance Manager at LRV Industries, Is Asked by Her