The type of plan of a company, which quantities the expectations of cash flows, income and financial position is known as ___________?
Correct answer: C. budget
- A. complexity
- B. batching
- C. budget
- D. process
Explanation
A budget quantifies expected cash flows, income and financial position for a future period. It converts management’s plan into measurable financial and operating targets.
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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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