The First Budget to Be Prepared for a Professional Services

question 35

Multiple Choice

The first budget to be prepared for a professional services firm should be the:

• A)Direct expense budget.
• B)Labor budget.
• C)Overhead budget.
• D)Revenue budget.

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Definitions:

Delusions

False beliefs that are maintained even though they clearly are out of touch with reality.

Hallucinations

Sensory perceptions that occur in the absence of a real external stimulus or that represent gross distortions of perceptual input.

Repression

Keeping distressing thoughts and feelings buried in the unconscious.

Displacement

Diverting emotional feelings (usually anger) from their original source to a substitute target.