Which of the Following Budgets Is a Major Part of the Master

question 152

Multiple Choice

Which of the following budgets is a major part of the master budget and it focuses on the income statement and its supporting schedules?

• A)cash
• B)operating
• C)capital expenditures
• D)financial

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Definitions:

Atmospheric Pressure

The pressure exerted by the weight of the atmosphere at any given point, usually measured in millibars (mb) or inches of mercury (Hg).

Sea Level

The average height of the ocean's surface between high and low tide, used as a reference point for measuring elevations and atmospheric pressure.

Fluid

A substance that has fluidity; that is, it lacks definite shape and both flows readily and yields to the slightest pressure. Most liquids and gases are fluids.

Gases

Substances that exist in a state that fills any container uniformly, without a definite shape or volume, such as oxygen or nitrogen.