Which of the Following Terms Is Generally Not Used to Describe

question 109

Multiple Choice

Which of the following terms is generally not used to describe the forward-oriented nature of the budgeting process?

• A)Predicted
• B)Estimated
• C)Hoped for
• D)Expected

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Capital

Economic resources used in the production of goods and services, such as machinery, buildings, or tools.

Construction Crane

A type of machinery used on construction sites to lift and lower materials and to move them horizontally.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.