A budget is best described as:
A) A formal statement of a company's future plans usually expressed in monetary terms.
B) A master control device.
C) An informal statement of company future plans usually expressed in monetary terms.
D) The most crucial component of a company evaluation process.
E) The minimum acceptable performance level.

Question

Quizplus · Accepted Answer

A budget is a formal statement of a company's future plans expressed in monetary terms. It reflects the company's expected revenue, expenses, and overall financial goals for a specific period. Budgets serve as a guide for financial decision-making and help companies manage cash flow, allocate resources, and evaluate performance.

A Budget Is Best Described As