41. Which of the following refers to quantitative plans for the future, stated in either physical terms or financial terms or both?
A)A statement of owner's equity
B)An income statement
C)A budget
D)A balance sheet

Question

Quizplus · Accepted Answer

A budget is a quantitative plan for the future that outlines expected revenues and expenses. It can be stated in physical terms (e.g., units produced) or financial terms (e.g., dollars). A statement of owner's equity, income statement, and balance sheet are all financial statements that report on past performance or the current financial position of a company.

41 Which of the Following Refers to Quantitative Plans for the Future