An itemized summary of estimated income and expected expenditures in a given period is known as a
A)budget.
B)budget variance.
C)budget reconciliation.
D)all of the options are incorrect.

Question

Quizplus · Accepted Answer

A budget is an itemized summary of estimated income and expected expenditures in a given period. Option B, budget variance, refers to the difference between actual and budgeted amounts. Option C, budget reconciliation, is the process of comparing actual results to the budget and adjusting as necessary. Option D is incorrect as A is the correct answer.

An Itemized Summary of Estimated Income and Expected Expenditures in a Given