Given below are two statements :
Statement (I): Planning premises are defined as the anticipated environment in which plans are expected to operate. They inlcude assumptions or forecasts of the future ans known conditions that will affect the operation of plans.
Statement (II): No distinction should be drawn between forecasts that are planning premises and forecasts that are translated into future expectancies, usually in financial terms, from actual plans developed.
In the light of the above statements, choose the most appropriate answer from the options given below:
1
Both Statement I and Statement II are correct
2
Both Statement I and Statement II are incorrect
3
Statement I is correct but Statement II is incorrect
4
Statement I is incorrect but Statement II is correct