To Create a Budget

question 10

Multiple Choice

To create a budget:

• A)From the Company Center,select Company & Financials > Budgets
• B)From the Edit Menu,select Preferences > Set Up Budgets
• C)From the Company Menu,select Planning & Budgeting > Set Up Budgets
• D)From the Banking Menu,select Planning & Budgets > Budgets

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Definitions:

Elastic

Describes a situation in which the supply or demand for a good or service is highly responsive to changes in price.

Long Run

A period in economic analysis where all factors of production and costs are variable, allowing for full adjustment to changes in the market or economy.

Short Run

A period in economic theory during which at least one factor of production is fixed, limiting the capacity to adjust to changes in market demand.

Elastic

Describes a situation where the quantity demanded or supplied of a good is sensitive to changes in price.