In Preparing and Using Any Budget, It Is Important That

question 10

Multiple Choice

In preparing and using any budget, it is important that managers keep in mind the

• A) assumptions and predictions upon which the budget is based.
• B) present value of future cash flow.
• C) budgeted profit and loss statement.
• D) 'bottom line'.

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Definitions:

Corruption

The abuse of entrusted power for private gain, which can occur in both the public and private sectors.

Economic Espionage

The illegal act of stealing or attempting to steal trade secrets or proprietary information from a company for economic gain.

Utilitarianism

An ethical theory that suggests an action is right if it benefits the greatest number of people.

Business Intelligence

The strategies and technologies used by enterprises for data analysis of business information to support decision making.