A Budget Is Prepared as Part of a

question 81

Multiple Choice

A budget is prepared as part of a

• A)strategic plan.
• B)short-range plan.
• C)organizational plan.
• D)long-range plan.

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Definitions:

Profit-Maximizing

The process or strategy aimed at achieving the highest possible profit from products or services.

Loss-Minimizing

A strategy or approach aimed at reducing losses in business operations to the lowest possible level.

Profit-Maximizing

The process or strategy of adjusting production and operation methods to achieve the highest possible profit.

Loss-Minimizing

A strategy or approach aimed at reducing the financial losses of a business or economic activity to the lowest possible level.