Which of the Following Statements Is Correct

question 31

Multiple Choice

Which of the following statements is correct?

• A) GST can be ignored when preparing budgets.
• B) Most firms prepare cash budgets for periods of 5 years or more.
• C) The bank figure in the budgeted balance sheet comes from the cash budget.
• D) Budgeted retained profits is calculated as opening balance plus budgeted profit plus budgeted dividends.

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Definitions:

American Nationality

The legal status or identity of a person as a citizen of the United States, encompassing the rights and duties associated with such citizenship.

Immigrants

People who move to a foreign country or region with the intention of settling and living there, often in search of better life opportunities, work, or safety.

Blacks

Refers to individuals of African descent, often used within the context of discussing historical and contemporary issues of race and culture.

Executive Order 8802

A landmark order issued by President Franklin D. Roosevelt in 1941, prohibiting ethnic or racial discrimination in the defense industry or government.