Examlex
Which of the following statements is true?
General and Administrative Expense Budget
A financial plan that estimates the costs associated with the day-to-day operations of running a business excluding production costs.
Budget
An estimate of income and expenditure for a set period of time.
Master Budget
A comprehensive financial planning document that consolidates all of a company’s budgets for sales, production, overhead, administration, and others into one overall budget.
Safety Stock
An additional quantity of an item kept in the inventory to reduce the risk of stockouts due to uncertainties in supply and demand.
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