Which one of the following is correct concerning a budget period?
A)A budget is prepared to summarize the organization's activity for the month, quarter, or year just completed.
B)A budget can be prepared for any period of time.
C)A budget must be prepared for a one year period.
D)A budget can be prepared for any period of time, but once that period has been adopted it cannot be changed.

Question

Quizplus · Accepted Answer

A budget can be prepared for any period of time, depending on the needs and goals of the organization. It can be prepared monthly, quarterly, annually, or for any other period of time that is appropriate. There is no set requirement for the length of a budget period.

Which One of the Following Is Correct Concerning a Budget