A Budget Procedure That Provides for the Maintenance at All

question 135

True/False

A budget procedure that provides for the maintenance at all times of a twelve-month projection into the future is called continuous budgeting.

---

Definitions:

Entertainment

Activities or performances designed for the enjoyment, amusement, or relaxation of an audience, such as movies, music, or sports.

Petty Cash Fund

A small pool of funds held for the purpose of settling small, miscellaneous bills immediately.

Miscellaneous Expense

Minor and irregular costs that do not naturally fit into other designated categories of expenses in financial accounting.

Incidentals

Minor or secondary expenses or costs that may occur in addition to the primary expenses.