What Is the Name for a Forecast or Estimate of Future

question 32

Multiple Choice

What is the name for a forecast or estimate of future operating revenue, expense and profit?

• A) P&L
• B) Budget
• C) Income statement
• D) Expense category

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Definitions:

Marginal Revenue

The plus income from the sale of one more unit of a good or service.

Competitive Market

A market structure characterized by a large number of buyers and sellers, where no single entity can dictate prices or terms, leading to an efficient allocation of resources.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a stable market condition.

Marginal Cost

The expenditure required to produce an additional single unit of a product or service.