Kate Is a Financial Manager at Heartland Feeds, a Producer

question 44

Multiple Choice

Kate is a financial manager at Heartland Feeds, a producer of feed products for cattle. She produces a budget that shows the anticipated receipts and expenses of the company. The budget also shows her the amount of working capital available and whether it is likely that the company will need to obtain loans. This is the last budget that Katrina produces for the upcoming year. Which type of budget is this?

• A) Master budget.
• B) Cash budget.
• C) Cost production budget.
• D) Production budget.
• E) Sales budget.

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Definitions:

Life Insurance

A contract providing payment to designated beneficiaries upon the insured person’s death, offering financial protection against the loss of income.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured or reimburses them for expenses from illnesses or injuries.

Workers' Compensation Insurance

Insurance that provides medical benefits and wage replacement to employees injured on the job.

FUTA

This Act enforces a payroll tax on enterprises to finance state labor agencies, known as the Federal Unemployment Tax Act.