What is the importance of quantifying plan?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What is the importance of quantifying plan?

TRUE or FALSE

1. Long-term financial plans are goals that lay out the overall direction of
the company.
2. For corporations, the management must establish a mechanism which
will allow plans to be monitored and change from time to time.

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