Chapter 16, Problem 8AA

To determine

To choose: The term that best completes the given sentence.

Answer to Problem 8AA

The term that best completes the given sentence is maintain.

Explanation of Solution

Financial statements should provide users with information to help to determine its resources. This process is important in the development of the budgetary allocations for the following year. In turn, planning the budget is not just an annual exercise to decide the plan but agencies need an improved degree of reasoning for annual expenses. It can be said that records help to make prediction as well as the decision in the planning making. So, the answer is maintain.

Economics Concept Introduction

Introduction: Awareness of timescales and goals helps in resource allocation and project management. It is necessary to have a forecast of revenues and costs as accurate as possible. This will require close consideration of the costs of manufacturing products or services. Example, the necessary amount of accommodation.