Characteristics of budgets include: (Check all that apply.) Multiple select question. a focus on the past. typically span a mont

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Characteristics of budgets include: (Check all that apply.) Multiple select question. a focus on the past. typically span a mont

h, quarter or one year. expressed in monetary terms. formal statement of a company's plans. typically span 5 to 10 years. expressed in nonfinancial terms.

Business

1 answer:

const2013 [10] · Answer 1 · 2022-05-22T16:36:17+03:00

Answer:

I. typically span a month, quarter or one year.

II. expressed in monetary terms.

III. formal statement of a company's plans.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year.

Basically, budgets are usually compiled, analyzed and re-evaluated on periodic basis such as monthly, quarterly or annually.

Some of the important characteristics of budgets include:

I. It typically span a month, quarter or one year.

II. It's expressed in monetary terms.

III. It's a formal statement of a company's plans.

Furthermore, some of the benefits of having a budget are; it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.