Which of the following is a tool commonly used as both a financial plan and a control technique?
A) income statement
B) balance sheet
C) HR design
D) product layout
E) budget

Question

Quizplus · Accepted Answer

A budget is a financial plan that outlines expected income and expenses for a specific period of time. It also serves as a control technique because it allows for monitoring of actual financial performance against budgeted performance, which can help identify areas where expenses are higher than anticipated and corrective actions can be taken. The other options (income statement, balance sheet, HR design, product layout) are not typically used as financial plans or control techniques in the same way that a budget is.

Which of the Following Is a Tool Commonly Used as Both