ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Net Sales
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Cost of Purchases
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Selling and Administrative Expenses
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Revenue
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Detailed explanation-1: -A budget schedule refers to the frequency with which you update and maintain your budget. That means regularly adding new transactions, putting those transactions in the right categories and then examining the budget. Start a budget schedule by pulling up your budget and loading all the expenses.
Detailed explanation-2: -The schedule determines when work elements (activities) are to be completed, milestones achieved, and when the project should be completed. The budget determines how much each work element should cost, the cost of each level of the work breakdown schedule (WBS), and how much the total project should cost.
Detailed explanation-3: -Budgeting for the national government involves four (4) distinct processes or phases : budget preparation, budget authorization, budget execution and accountability. While distinctly separate, these processes overlap in the implementation during a budget year.
Detailed explanation-4: -The three types of annual Government budgets based on estimates are Surplus Budget, Balanced Budget, and Deficit Budget.