Which One of the Following Statements Describes a Budget Report

question 9

Multiple Choice

Which one of the following statements describes a budget report?

• A)It is the preparation of long-term plans.
• B)It is a comparison of actual results with planned objectives.
• C)It includes the valuation of inventories.
• D)It is voted on and approved by the stockholders.

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Definitions:

Canadian Dollar

The currency of Canada, often represented by the symbol CAD.

British Pound

The recognized monetary unit of the United Kingdom, also referred to as GBP (Great Britain Pound).

London Interbank Offer Rate

An interest rate average calculated from estimates submitted by the leading banks in London, used as a benchmark for lending rates worldwide.

Overnight Eurodollar Loans

Short-term loans between banks that use US dollars held in banks outside the United States, to be repaid the next business day.