A budget that outlines the anticipated actual expenses for responsibility centre is called a(n):
A) capital expenditure budget
B) balance sheet budget
C) cash budget
D) revenue budget
E) expense budget.

Question

Quizplus · Accepted Answer

An expense budget outlines the anticipated actual expenses for a responsibility centre. A capital expenditure budget outlines the anticipated investment in long-term assets, a balance sheet budget shows a company's assets, liabilities, and equity at a specific point in time, a cash budget outlines the expected cash inflows and outflows, and a revenue budget outlines the expected sales or revenue for a period.

A Budget That Outlines the Anticipated Actual Expenses for Responsibility