Which of the Following Types of Budgets Plot Anticipated Sales

question 215

Multiple Choice

Which of the following types of budgets plot anticipated sales or revenues against expenses?

• A) zero-based budgets
• B) nonmonetary budgets
• C) financial budgets
• D) operating budgets
• E) fixed budgets

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Definitions:

360-Day Year

A simplified method of calculating interest for commercial loans or bonds that assumes each month has 30 days, resulting in a 360-day year.

Interest

The cost of borrowing money or the return on investment, typically expressed as a percentage over a period of time.

Principal

The original sum of money borrowed in a loan, or the amount of the investment on which interest is calculated.

Promissory Note

A Promissory Note is a financial document in which one party promises to pay a specified sum of money to another party at a predetermined date or on demand.