________ consider proposed fixed-asset outlays, research and development activities, marketing and product development actions, and both the mix and major sources of financing.

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Long-term financial plans are designed to consider proposed fixed-asset outlays, research and development activities, marketing and product development actions, and both the mix and major sources of financing. These plans typically cover a period of three to five years and help companies to align their strategic goals with their financial resources. Short-term financial plans, on the other hand, usually cover a period of one year or less and focus on day-to-day cash management. Pro-forma statements are financial projections that companies use to estimate future earnings and cash flows, while cash budgeting is a tool used to plan and control cash inflows and outflows in the short term.

________ Consider Proposed Fixed-Asset Outlays, Research and Development Activities, Marketing