Which of the Following Statements Do Not Contain Features Required

question 16

Multiple Choice

Which of the following statements do not contain features required of a budget -

• A)choosing asset and liability accounts
• B)entering a budget period frequency
• C)choosing revenue and expense accounts
• D)entering the budget amounts

---

Definitions:

Oral Assignments

Assignments or transfers of rights or property carried out verbally rather than in writing, although their enforceability may be limited.

Statute of Frauds

A legal requirement that certain types of contracts be executed in writing and signed by the party to be charged, in order to be enforceable.

UCC

Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, intended to standardize regulations across the states.

IRS Form

Official documents issued by the Internal Revenue Service for taxpayers to report financial information, file taxes, or claim deductions.