The First Step in Building a Budget Is

question 26

Multiple Choice

The first step in building a budget is

• A) Collecting data
• B) Forecasting output
• C) Estimating revenue
• D) Estimating expenses
• E) Identifying the type of budget to be constructed

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Definitions:

Economy

The system of production, distribution, and consumption of goods and services within a geographical region.

Monopoly Position

A market condition where a single entity dominates the supply of a particular good or service, limiting competition.

De Beers Diamond

De Beers Diamond refers to the diamonds mined, marketed, and sold by De Beers, a company known for its historical dominance in the diamond industry.