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's future plans usually expressed in monetary terms.
D) The most crucial component of a company's evaluation process.
E) The minimum acceptable performance level.

Question

Quizplus · Accepted Answer

A budget is a formal statement of a company's future plans usually expressed in monetary terms. It outlines expected expenses and revenue for a specific period of time, typically a year, and is used as a tool for financial planning and control.

A Budget Is Best Described As