A Written Order or Promise to Pay a Sum of Money

question 30

Short Answer

A written order or promise to pay a sum of money is called a(n) ____________________ instrument.

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Definitions:

Budgeting Benefits

The advantages of budgeting, including improved financial management, planning, and control, as well as enhanced decision-making.

Operating Budgets

Financial plans that outline the projected revenue and expenses for the day-to-day operations of an organization.

Budgeted Income Statement

A financial statement that shows projected revenues, costs, expenses, and net income for a specific period of time.

Cash Budget

A financial plan that estimates cash inflows and outflows over a particular period of time, often used to assess liquidity.