INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-A budget will have value only if it is actually used and [records are kept of actual income/expenses | spending never deviates from the budgeted amount].
A)for the first item
B)for the second item
C)if neither item will correctly complete the statement.

Question

Quizplus · Accepted Answer

The statement emphasizes the importance of actually using the budget and keeping records of actual income and expenses to determine whether the budget was effective. The second option of "spending never deviates from the budgeted amount" does not acknowledge the possibility of unexpected expenses or shifting priorities, making it an unrealistic expectation for most budgets.

INSTRUCTIONS: Choose the Word or Phrase in [ ] Which