A___________ Budget Is a Summary of Expected Costs for a Range

question 42

Multiple Choice

A___________ budget is a summary of expected costs for a range of activity levels geared to changes in the level of productive output.

• A) master
• B) flexible
• C) continuous
• D) departmental

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Definitions:

Tax

A compulsory financial charge imposed by a government on individuals or entities to fund various public expenditures.

Marginal Social Benefit

An additional gain to society derived from consuming or producing another unit of a good or service.

Marginal Social Cost

An increased charge to the general public for the creation of one more unit of a product or service.

Pollution

The presence in or introduction into the environment of a substance or thing that has harmful or poisonous effects.