The quantitative expression, of action plan by the management of the firm for a specified period of time is classified as ___________?
Correct answer: C. budget
- A. complexity
- B. process
- C. budget
- D. batching
Explanation
A budget is a formal quantitative expression of management's action plan for a stated future period. The other choices describe general activities or concepts, not a quantified plan.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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More Cost Accounting questions
The starting point in the operating budget is __________?
The higher and accurate budgeted profit forecast of managers lead to __________?
The budget sales, plus target ending finished goods inventory, minus beginning finished goods inventory is equal to ___________?
The budget plan in many companies is also referred as ___________?
The practice, which makes target more achievable by underestimating revenues or overestimating cost is called _____________?
The better administration of budget in budgeting plans require:_____________?