Which of the following statements about the financial planning process are true? Check all that apply. A firm’s performance-based compensation system should be focused on an employee’s ability to create short-run profits because this will ultimately keep the firm’s stock price the highest. Management must monitor operations after implementing a financial plan to detect deviations from the plan and adjust accordingly. Once a firm’s forecasted financial statements are prepared, the firm must determine how much capital it will need to support these plans.