A formal written statement of management's plans for the future, expressed in financial terms, is a:
A) gross profit report
B) responsibility report
C) budget
D) performance report

Question

Quizplus · Accepted Answer

A formal written statement of management's plans for the future, expressed in financial terms, is a budget. A gross profit report is a financial statement that shows the revenue left after deducting the cost of goods sold. A responsibility report outlines the tasks and duties of a particular role or department. A performance report evaluates the performance of an individual or department.

A Formal Written Statement of Management's Plans for the Future