Which of the Following Statements Is Correct

question 133

Multiple Choice

Which of the following statements is correct?

• A)Budgets are limited to projecting cash inflows and outflows.
• B)Budgets serve as a planning and control tool.
• C)GAAP standards are used in budget development.
• D)Budgets serve as the standard by which estimated performance is compared.

---

Definitions:

Symbolic Ethnicity

A form of ethnicity that is individualistic in nature and without real social cost for the individual. It is often chosen or emphasized for symbolic value.

Race Relations

The interactions and relationships between people of different racial identities, which may encompass aspects of coexistence, conflict, and cooperation.

Three-tiered Hierarchy

A rephrased definition of the tier system, specifically referring to a structure divided into three distinct levels or rankings, often used to categorize entities based on their importance or status.

Capitalist History

The historical development and evolution of capitalism, an economic system characterized by private ownership of production and the creation of goods or services for profit.