Which Statement Is Incorrect

question 51

Multiple Choice

Which statement is incorrect?

• A)A budget defines precise targets, e.g., level of sales, levels of inventory.
• B)A budget is expressed in monetary terms.
• C)A budget is a short-term plan.
• D)A budget summarises past information.

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Definitions:

The Poor

Refers to individuals or groups who lack the financial resources to meet basic living standards considered acceptable in a society.

Income Distribution

The manner in which a nation's total earnings are divided among its population, affecting wealth equality or disparity.

Poverty Line

The poverty line is a threshold that defines the minimum level of income deemed necessary to achieve an adequate standard of living in a given country.

Richest 1%

The segment of the population that holds a disproportionately large amount of wealth compared to other sectors, often used in discussions on income disparity.