The Set of Periodic Budgets That Are Prepared and Periodically

question 141

Multiple Choice

The set of periodic budgets that are prepared and periodically revised in the practice of continuous budgeting is called:

• A) Production budgets
• B) Sales budgets
• C) Cash budgets
• D) Rolling budgets
• E) Capital expenditures budgets

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Definitions:

Allocated Fixed Costs

Fixed costs that are assigned or distributed to various departments, products, or activities based on specific criteria.

Net Income

The total earnings of a company after subtracting all expenses from its total revenues; also known as net profit.

Income

The amount of money received by an individual or business in exchange for providing a good or service or through investing capital.

Loss

A financial term representing the amount by which expenses exceed revenues.