Lee, the chief financial officer of a bank, prepares a plan with a detailed estimate of the company's fixed long-term expenditures. This plan will be presented at the Annual General Meeting every year. In this scenario, Lee has most likely prepared a _____.

Question

Quizplus · Accepted Answer

A standing plan is a plan that is ongoing and is used repeatedly. In this case, Lee's plan is a standing plan because it is used every year to estimate the company's fixed long-term expenditures.

Lee, the Chief Financial Officer of a Bank, Prepares a Plan