A Plan That Lists the Types and Amounts of Operating

question 139

Multiple Choice

A plan that lists the types and amounts of operating expenses expected that are not included in the selling expenses budget is a:

• A) Sales budget.
• B) Cash payments budget.
• C) Selling expense budget.
• D) General and administrative expense budget.
• E) Overhead budget.

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Definitions:

Illegality

A condition or status of an action that is forbidden by law.

Contract of Adhesion

A standard-form contract prepared by one party, to be signed by another party in a position of weaker bargaining power, typically where the terms are non-negotiable.

Public Policy

A principle or course of action adopted or proposed by a government, party, business, or individual, reflecting the societal values and interests at that time.

Exculpatory Clause

A provision in a contract that absolves one party of liability for any wrongdoing related to the agreement.