Question

Budget refers to

• A. Planned target of performance
• B. Use of handling future activities
• C. Systematic action
• D. Statement of expected results expressed in numerical terms

Hint:

A budget provides a clear framework for financial decision-making and helps monitor progress against financial targets.

Answer 1

The Correct Option is D

Step 1: Understand the concept of a budget.
A budget is a financial plan that outlines the expected revenues, costs, and expenditures over a specified period. It represents an organization’s expectations and plans for future activities.
Step 2: Evaluate the options.
- A budget is a detailed statement of expected results, often in numerical terms. - It is not just a target of performance or a plan for handling future activities. - Systematic action refers to the organized steps taken to meet the budget, but the budget itself is a formal financial plan.
Step 3: Conclude.
The correct answer is (D) as the budget involves setting financial goals in numerical terms.
Final Answer: \[ \boxed{\text{Statement of expected results expressed in numerical terms}} \]