Which One of the Following Is a Critical Factor in Budgeting

question 101

Multiple Choice

Which one of the following is a critical factor in budgeting for a service company?

• A)coordinating professional staff needs with anticipated services
• B)determining how to allocate the disproportionate costs
• C)budgeting expenditures before anticipated receipts
• D)determining client needs

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Definitions:

Relatively Elastic

A description of a situation where the demand for a good or service significantly changes in response to a change in price.

Excise Tax

A tax on the sale or production for sale of specific goods within a country, typically on commodities like alcohol and tobacco.

Specific Items

Goods or commodities that are distinctly identified and provided in a market or contract.

Excise Taxes

Taxes imposed on specific goods, services, or transactions, often levied on items such as gasoline, tobacco, and alcohol.