A Budget Is Best Described As

question 37

Multiple Choice

A budget is best described as:

• A) A formal statement of a company's future plans usually expressed in monetary terms.
• B) A master control device.
• C) An informal statement of company's future plans usually expressed in monetary terms.
• D) The most crucial component of a company's evaluation process.
• E) The minimum acceptable performance level.

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Definitions:

Exporters

Companies or individuals that sell goods and services produced in one country to buyers in other countries.

Foreign Exchange Market

The market where one country’s currency is traded for another’s.

Spot Exchange Rate

The exchange rate on a spot trade.

Forward Exchange Rate

The agreed-on exchange rate to be used in a forward trade.