Which of the Following Is a Payment Liability

question 86

Multiple Choice

Which of the following is a payment liability?

• A) Real estate taxes.
• B) Tort claims.
• C) Insurance premiums.
• D) Refunds.
• E) All of the choices are correct.

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Definitions:

Rolling Budgets

A financial planning method that continuously updates by adding a new budget period as the current period is completed, ensuring a constant planning horizon.

Continuous Budgeting

A method of budgeting that continuously updates the financial budgets by adding a new period (month, quarter, etc.) as the current period is completed, allowing for near continuous financial planning.

Master Budget

A comprehensive financial plan for an organization's upcoming year, summarizing all of its plans and financial activities.

Budget

A financial plan that estimates income and expenditures for a future period, often used as a guide for financial decision-making and resource allocation.