INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 57

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-A budget will have value only if it is actually used and [records are kept of actual income/expenses | spending never deviates from the budgeted amount].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Assignment

The transition of rights, possessions, or obligations between parties.

Pro Rata

A portion or share of something that is distributed or allocated in equal proportion to the whole.

Discharged

Refers to the release or termination of a legal duty, obligation, or debt.

Discharge

The completion, termination, or fulfillment of a legal obligation or duty, such as the discharge of a debt or the formal dismissal of an employee.