A budget is best described as:
A) An informal statement of company's future plans usually expressed in monetary terms.
B) The minimum acceptable performance level.
C) A master control device.
D) A formal statement of a company's future plans usually expressed in monetary terms.
E) The most crucial component of a company's evaluation process.

Question

Quizplus · Accepted Answer

A budget is a formal statement of a company's future plans usually expressed in monetary terms. It includes detailed estimates of future revenues, expenses, and cash flows over a given period of time.

A Budget Is Best Described As