Which of the Following Is Prepared Periodically, to Always Reflect

question 44

Multiple Choice

Which of the following is prepared periodically, to always reflect planning changes for a specific future time frame?

• A) Flexible budget
• B) Static budget
• C) Rolling budget
• D) Zero-based budget

---

Definitions:

Proprietorship

A business owned and operated by a single individual, also known as a sole proprietorship.

Objectivity Concept

An accounting principle ensuring that financial statements are based on verifiable and unbiased evidence.

Financial Statements

Reports that summarize the financial performance and position of a business, including the income statement, balance sheet, and cash flow statement.

Financial Accounting Standards Board

An autonomous body tasked with creating and enhancing financial accounting and reporting norms in the United States.