A City Formally Adopted a Budget at the Beginning of the Current

question 5

Multiple Choice

A city formally adopted a budget at the beginning of the current year.Budgeted revenues were $500 and budgeted expenditures were $490.During the year actual revenues were $520 and actual expenditures were $480.Which of the following statements is true?Fund balance at the end of the current year in comparison to fund balance at the end of the preceding year will be

• A)$10 greater.
• B)$30 greater.
• C)$40 greater.
• D)$50 greater.

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Definitions:

Product Differentiation

The process of distinguishing a product or service from others in the market to make it more attractive to a target audience.

Shopping Product

Goods that consumers purchase after comparing quality, price, and style from several sellers, requiring more decision-making effort than routine purchases.

Promotion

A marketing strategy aiming to increase customer awareness and interest in a product or service, often involving special offers.

Unsought Product

Unsought products are goods that consumers do not normally consider buying or may not be aware of until they encounter them, often requiring significant marketing efforts.