Option A is correct. Short term goals can be set to help achieve specific long term goals. This statement is true.
Further Explanation:
Short term goals refer to the goals which the company has to achieve for a short period, maybe for six months or less than it. The company set its short term goals in accordance with the long term goals. Long term goals refer to the goals which the company has to achieve in the long term may be for one year or more than one year. For example, the company's long term goal for sales is $500,000 for one year. The company set its short term goal with respect to long term goals. So, after one year, the company has achieved its targets of $500,000.
Justification for the correct and incorrect answer:
A.
True: This option is correct.
Short term goals can be used for achieving specific long term goals. Short term goals have the path towards the long term. This statement is true.
B.
False: This option is incorrect.
This statement is not true. As explained in the above paragraph; the company set their short term goals in that manner so that their long term goals are automatically achieved.
Learn more:
1. Learn more about short term goals
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2. Learn more about budgeting
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3. Learn more about budget goal
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Answer details:
Grade: Middle School
Subject: Accounting
Chapter: Budgeting
Keywords: short goals, specific achieved, long term goals, more than one year, more than six months, can be set, company.
