In Accounting, ________ Cover the Annual Cost of Running the Business

question 1

Multiple Choice

In accounting, ________ cover the annual cost of running the business.

• A) operating budgets.
• B) capital budgets.
• C) tactical budgets.
• D) hardware and software budgets.
• E) IT budget.

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Definitions:

GAAP

Generally Accepted Accounting Principles encompass a series of standard accounting practices and rules for the creation of financial reports.

Financial Accounting

The field of accounting that focuses on providing information to external users such as investors, creditors, and regulators, primarily through financial statements.

GAAP

A set of widely accepted accounting norms and standards, referred to as Generally Accepted Accounting Principles, for the preparation of financial statements.

Line Positions

Roles in an organization directly involved in its core activities and responsible for achieving its primary objectives, as opposed to support or administrative positions.