A(n) _____ is a detailed forecast of your expected cash inflows (income) and cash outflows (expenditures), which helps control your financial situation.
A) allowance
B) budget
C) working capital
D) inventory

Question

Quizplus · Accepted Answer

A detailed forecast of expected cash inflows and outflows is called a budget. Budgets help individuals and businesses to control their financial situations by planning for income and expenses. Allowances are a predetermined amount of money given to someone for a specific purpose, such as a child's spending money. Working capital refers to the amount of money a business has available for daily operations, and inventory refers to the goods and materials a business has in stock for sale. While both working capital and inventory are important considerations for a business, they are not the same as a budget.

A(n) _____ Is a Detailed Forecast of Your Expected Cash