A moving 12-month budget is referred to as:a. a continuous budget.b. a capital budget.c. a periodic budget.d. a short-term budget.
A
The correct answer is a. a continuous budget.
A continuous budget is a type of budgeting system that is updated and revised regularly to reflect changes in business operations and conditions. It usually covers a 12-month period but is continuously updated, meaning that each month’s budget is adjusted to reflect actual performance and changes in business conditions. This helps a company to react more quickly to any changes in the business environment, ensuring that the business’s financial plan remains relevant and realistic throughout the year.
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