Financial Audit Categories Quiz

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Questions and Answers

What is the purpose of solid financial information (financial statements) in a cooperative or company?

  • To attract investors, financiers, donors
  • To guide the organization towards achieving realistic objectives (correct)
  • To develop products or services
  • To focus on marketing, HR, communication

Why is strategic planning considered important for an organization?

  • To focus only on financial statements
  • To merge with business plans
  • To guide the organization towards achieving realistic objectives (correct)
  • To attract investors, financiers, donors

What type of planning focuses more on marketing, HR, communication, finance, and operations divisions?

  • Operational Planning
  • Business Planning
  • Strategic Planning (correct)
  • Financial Planning

When is business planning usually completed before starting created and running activities?

<p>Before obtaining start-up funding (D)</p> Signup and view all the answers

Who is strategic planning usually disclosed to?

<p>All stakeholders, internal and external (B)</p> Signup and view all the answers

What does the text suggest is more tactical and operative, at a programmatic/strategic level?

<p>Business Planning (B)</p> Signup and view all the answers

How long is the typical duration for strategic planning in large organizations?

<p>3-5 years (D)</p> Signup and view all the answers

What distinguishes large organizations from smaller ones regarding strategic and business planning?

<p>Large organizations merge their strategic planning with business plans (C)</p> Signup and view all the answers

What is the focus of business planning?

<p>To be feasible and obtain start-up funding (B)</p> Signup and view all the answers

What does the text suggest is crucial for becoming 'bankable'?

<p>Solid financial information (C)</p> Signup and view all the answers

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