ESS

question 22

Multiple Choice

ESS:

• A)support the structured decision making of senior executives.
• B)have the ability to drill down into lower levels of detail.
• C)easily integrate data from different systems.
• D)are primarily driven by information derived from a company's transaction processing systems.
• E)enable operational managers to create parameterized reports.

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Definitions:

Budgeting

The process of creating a financial plan to manage revenues, expenses, and resources over a specified period, often projecting future income and expenditures.

Financial Terms

The specific language or jargon used within the finance industry to describe actions, instruments, processes, and concepts related to money and finance.

Preparing A Budget

The process of creating a financial plan that forecasts the revenues and expenses over a specified period, typically a year.

Budget Goals

Financial targets that an organization aims to achieve within a specific period to manage resources effectively.