Development of the Operating Budget Begins with the

question 136

Multiple Choice

Development of the operating budget begins with the

• A)cash budget.
• B)sales budget.
• C)overhead budget.
• D)pro-forma budget.

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Definitions:

Tariff

Government-imposed duties on imported or, less commonly, exported goods, often established to protect domestic industries and to generate revenue.

Quota

A limit set by a government on the quantity of a particular product that can be imported or exported within a given timeframe, used for trade regulation.

Policy Action

A deliberate action taken by a government or other organization to influence economic, social, or environmental outcomes.

Domestic Supply

The sum of all products and services made within a nation, ready for use domestically or for sending abroad.