A Community College Has to Decide If More Budget Is

question 55

Multiple Choice

A community college has to decide if more budget is to be allocated for hiring new instructors or for developing new laboratory facilities.This is an example of ________.

• A) determining priorities
• B) forecasting
• C) benchmarking
• D) contingency planning

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Definitions:

Accounts Payable

Money owed by a company to its creditors for goods and services that have been received but not yet paid for.

Prepaid Expenses

The payments the company has already made for services not yet received.

Compensation Policy

The level of compensation and benefits for each type of position in the business.

Obligations

Duties or responsibilities that an individual or organization is required to fulfill, often by law, social norms, or personal commitment.