Which of the Following Best Describes a Rolling Budget

question 87

Multiple Choice

Which of the following best describes a rolling budget?

• A) It is a budget that continually outlines the amount required to roll over debt in a future period.
• B) It is created continually by adding a month, quarter, or year to the period just ended
• C) It is a budget that outlines budgeted expenses while utilizing a moving average
• D) It is a budget that is submitted to a bank at the beginning of every month as per a loan covenant.

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Definitions:

Specific Performance

A legal remedy requiring a party to perform a specific act, usually fulfilling a contractual agreement, rather than paying damages for failing to perform.

Risk of Loss

The liability for damage or destruction of goods, determining which party bears the financial burden if goods are damaged before delivery.

Risk of Loss

The chance that an asset might be lost, stolen, or damaged, and the question of who bears this risk under the terms of a contract.

Pleadings Provided

Legal documents submitted by parties in a lawsuit that set forth the claims, defenses, and other legal arguments involved in the dispute.