When Creating a Budget,which of the Following Statements Is True

question 44

Multiple Choice

When creating a budget,which of the following statements is true?

• A) Include in income the bonuses and gifts you expect to receive.
• B) It is easier to create a budget if your earnings vary.
• C) Common financial problems can be maximized through budgeting.
• D) Numbers in the budget are estimates.
• E) It is better to overestimate your income for next year.

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Definitions:

CRM

Customer Relationship Management, a technology for managing a company's interactions and relationships with current and potential customers.

MRP II

Manufacturing Resource Planning (MRP II) is an integrated method for effective planning of all resources of a manufacturing company, including production scheduling and inventory management.

MRP

Stands for Material Requirements Planning, a system for calculating materials and components needed to manufacture a product.

SCM

Stands for Supply Chain Management, which involves managing the flow of goods and services, including all processes that transform raw materials into final products.