Budgeted costs are ________.
A) the costs incurred this year
B) the costs incurred last year
C) planned or expected costs
D) competitor's costs

Question

Quizplus · Accepted Answer

Budgeted costs refer to planned or expected costs for a specific period of time, usually a fiscal year or project timeline. It is a projection of future costs based on the organization's goals and objectives. Option A and B refer to actual costs incurred in previous years, and option D refers to the costs of competitors, which may not be relevant to the organization's own budgeting process.

Budgeted Costs Are ________