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fatsoulmh fatsoulmh
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Because it can be difficult to predict long-term revenue and cost accurately, managers can use ________ to identify several ways events could unfold and how to budget for each of those potential outcomes.

▸ factoring

▸ leveraging

▸ bottom-up budgeting

▸ zero-based budgeting

▸ scenario planning
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Business in Action


Edition: 9th
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shindh02shindh02
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More questions for this book are available here
scenario planning

Volatile and uncertain situations can make conventional forecasting a dicey proposition because planners often can't make solid assumptions about major factors in their forecasting models. A useful approach in these circumstances is scenario planning, in which managers identify two or more possible ways that events and scenarios could unfold and have a budgetary response ready for each one. Scenario planning is particularly valuable for long-range planning because the longer the time frame, the harder it is to pin down revenues and costs with any degree of accuracy.

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