Historic financial goals and objectives, even though financial outcomes are wide ranging in scope, are also purely historic.Question 7Select one:TrueFalse

Analysis of the Statement

1. Understanding Historic Financial Goals and Objectives: Historic financial goals and objectives refer to targets set in the past, which were aimed at achieving specific financial outcomes. These can include benchmarks like revenue targets, profit margins, and cost reductions.

2. Assessing the Nature of Financial Outcomes: Financial outcomes can indeed vary widely in scope, influenced by factors such as market conditions, competition, and internal business operations.

3. Interpreting the Statement: The statement claims that these goals and objectives are "purely historic." This implies that they do not have ongoing relevance or application to current or future planning, which could be debated.

Conclusion

While historic financial goals provide valuable insights and context, the reality is that they can have implications for future planning. Therefore, claiming they are "purely historic" may not fully capture their ongoing relevance.

Final Answer

False. Historic financial goals and objectives can inform current and future financial planning, thus they are not purely historic.