Which of the following is false regarding budgets?
A) Capital budgets are prepared for venue development
B) Capital budgets and operating budgets are the same thing
C) Revenues refer to the inflows of assets whereas expenses refer to the outflow of assets

Question

Quizplus · Accepted Answer

Capital budgets and operating budgets are not the same thing. Capital budgets are prepared for venue development and involve large investments in infrastructure, equipment, and property. Operating budgets, on the other hand, are prepared for day-to-day operations and include expenses such as salaries, utilities, and supplies. Revenues refer to the inflows of assets, while expenses refer to the outflow of assets, which is true.

Which of the Following Is False Regarding Budgets