A Budgeting System That Has, in Effect, a Budget for a Set

question 2

Multiple Choice

A budgeting system that has, in effect, a budget for a set number of periods (that is, a constant planning horizon) at all times is called a(n) :

• A) Financial budget
• B) Operating budget
• C) Rolling financial forecast
• D) Capital budget
• E) Master budget

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Definitions:

Deficiency Judgment

A court order that holds a borrower personally liable for the shortfall when the sale of a foreclosed property does not cover the outstanding loan balance.

Sale

The passing of title from a seller to a buyer for a price.

Real Property

Land and anything permanently attached to it, such as buildings and trees, considered a form of real estate.

Attachment Process

A legal procedure used by a creditor to seize the property of a debtor in order to satisfy a judgment.