A Flexible Is a Budget Where

question 15

Multiple Choice

A flexible is a budget where:

• A) the budget estimates are prepared for a range of activities.
• B) fixed costs are not included.
• C) the estimates are amended if they are not attained in the period.
• D) preparation may be postponed if the entity is very busy or is short staffed.

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Definitions:

Unilateral Contract

A contract where one party makes a promise in exchange for the performance of a specified act by the other party, who is not obligated to perform.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, where no actual contract exists.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law among the states.

Article 2

A section of the UCC that governs the sale of goods, establishing standards and regulations for contracts and transactions.