Which One of the Following Is Correct Concerning a Budget

question 35

Multiple Choice

Which one of the following is correct concerning a budget period?

• A)A budget is prepared to summarize the organization's activity for the month, quarter, or year just completed.
• B)A budget can be prepared for any period of time.
• C)A budget must be prepared for a one year period.
• D)A budget can be prepared for any period of time, but once that period has been adopted it cannot be changed.

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Definitions:

Mean

The average value of a group of numbers, calculated by dividing the sum of all the numbers by the count of the numbers.

Frequency Distribution

a representation, often in the form of a table, that shows the number of observations within a particular range of values, used in statistics to summarize data sets.

Data Set

A collection of related sets of information that consists of separate elements but can be manipulated as a unit by a computer.

Data Set

A collection of data, often used for analysis, typically consisting of related sets of information.