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Ralph Has Budgeted $175 for Entertainment

question 31

Multiple Choice

Ralph has budgeted $175 for entertainment.He uses this money to go out on dates for $35 or to go out with his friends for $15.Which budget line equation represents the situation?


Definitions:

Expenses

The outflows or consumption of assets or incurring/liabilities (creating a liability) from a company's operations aimed at generating revenue.

Revenue

The total income generated from normal business operations, including sales of goods and services before any expenses are subtracted.

Withdrawals

The removal of funds from a bank account or the taking out of cash or assets from a business by its owner for personal use.

Assets

Economic resources owned or controlled by a business, expected to bring future benefits.

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