The Incorrect Statement Is

question 5

Multiple Choice

The incorrect statement is:

• A) A budget is a short-term plan.
• B) A budget defines precise targets, e.g. level of sales, levels of inventory.
• C) A budget is expressed in monetary terms.
• D) A budget summarises past information.

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Definitions:

Sure Thing

A situation or outcome that is guaranteed to occur or a bet that is certain to win, often used in the context of investments or decisions with a predictable outcome.

Weighted Average

Weighted average is a calculation that takes into account the varying degrees of importance of the numbers in a data set, assigning weights to some of the numbers more than others.

Expected Value

The predicted value of a variable, calculated as a sum of all possible values each multiplied by the probability of its occurrence.

Unit Of Measure

A standard quantity used in measuring and expressing the quantity of an element, substance, or phenomenon.