Question

Characteristics of budgets include: (check all that apply.)

A) Flexibility
B) Rigidity
C) Future-oriented
D) Historical
E) Short-term focus
F) Long-term focus

Answer 1

The characteristics of budgets include flexibility, future-oriented, and long-term focus.

Step-by-step explanation:

The characteristics of budgets include flexibility, future-oriented, and long-term focus.

1. Flexibility: Budgets should be flexible to accommodate changes in the business environment and unexpected events.
2. Future-oriented: Budgets are designed to plan and forecast future income and expenses.
3. Long-term focus: Budgets typically cover a period of time longer than one year, allowing businesses to set long-term financial goals.