The Main Purpose of a Budget Is to

question 83

Multiple Choice

The main purpose of a budget is to

• A)develop goals.
• B)develop a financial plan.
• C)give feedback to the plan.
• D)monitor and control financial outcomes.
• E)revise goals.

---

Definitions:

Interest-Bearing Note

A debt instrument that pays interest to the holder at a specified rate over the life of the note until its maturity.

Interest-Bearing Note

A debt instrument that pays interest to the holder until the maturity date when the principal amount is repaid.

Interest Expense

The cost incurred by an entity for borrowed funds, representing the interest payable on any type of debt.

Accrued Interest

Accrued interest refers to the interest on a bond or loan that has accumulated since the principal investment, or last interest payment, but has not yet been paid.