Examlex
Which of the following terms are not considered formal stages of the budgeting cycle?
Non-current Assets
Long-term investments or assets that are not expected to be converted into cash or used up within the business cycle of one year or the operating cycle, whichever is longer.
Bank Indebtedness
A financial obligation or debt to a bank, often in the form of loans, overdrafts, or lines of credit.
Current Liability
An obligation that a company is expected to pay within the next year or within the normal operating cycle.
Non-current Liability
Long-term financial obligations that are due beyond one year or beyond the normal operating cycle.
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