Which of the following is a correct definition of budget? Select one: O a A financial and/or quantitative statement, prepared and approved after a define period of time of the policy pursued during that period for the purpose of evaluating the objectives achieved. O b.A financial statement which reports the achieved and not achieved objectives of the company for a period of time. OCA financial and/or quantitative statement, prepared and approved prior to define period of time, of the policy to be pursued during that period for the purpose of attaining a given objective OdA statement which indudes the strategic objectives of a company to be achieved in the long term.

Which of the following is a correct definition of budget? Select one: O a A financial and/or quantitative statement, prepared and approved after a define period of time of the policy pursued during that period for the purpose of evaluating the objectives achieved. O b.A financial statement which reports the achieved and not achieved objectives of the company for a period of time. OCA financial and/or quantitative statement, prepared and approved prior to define period of time, of the policy to be pursued during that period for the purpose of attaining a given objective OdA statement which indudes the strategic objectives of a company to be achieved in the long term.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 16MC: Which of the following includes only financial budgets? capital asset budget, budgeted income...

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Which of the following statements is not correct? A. The sales budget is computed by multiplying estimated sales by the sales price. B. The production budget begins with the sales estimated for each period. C. The direct materials budget begins with the sales estimated for each period. D. The sales budget is typically the first budget prepared.
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