Suppose that in the control phase of the financial planning process a firm discovers it cannot raise the funds that are required to meet the forecasted sales. In this situation, the firm should ______.
A. use available cash to repay as many outstanding loans as possible
B. scale back its projected level of operations
C. expand its plant and equipment to the level necessary to meet the sales forecast
D. build up its inventory quickly
E. reformulate its plans to increase retained earnings and to decrease the dividend payments to stockholders
Answer: B
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