A Budget Is Best Described As

question 62

Multiple Choice

A budget is best described as:

• A) A formal statement of a company's future plans usually expressed in monetary terms.
• B) A master control device.
• C) An informal statement of company future plans usually expressed in monetary terms.
• D) The most crucial component of a company evaluation process.
• E) The minimum acceptable performance level.

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Definitions:

Financial Capital

Financial Capital refers to the funds provided by lenders (and investors) to businesses to purchase real capital equipment for producing goods/services.

Infrastructure

The fundamental physical and organizational structures and facilities (e.g., buildings, roads, power supplies) needed for the operation of a society or enterprise.

Brain Drain

The tendency for talented people from developing countries to become educated in a developed country and remain there after graduation.

Developing Countries

are nations with a lower living standard, underdeveloped industrial base, and low Human Development Index (HDI) compared to more developed countries.