Multiple Choice
Budgeted expenses for areas other than manufacturing are shown on the ______ budget.
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1. Introduction to Accounting
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Which of the following best describes 'equal billing' and its benefit when creating a monthly budget?
A
Equal billing is a method of splitting your monthly expenses equally among all household members, ensuring everyone pays the same amount.
B
Equal billing is a budgeting technique where you allocate the same amount to every expense category each month, regardless of actual usage.
C
Equal billing is a payment plan where utility companies average your annual usage and charge you a consistent monthly amount, helping you avoid large fluctuations in your monthly expenses.
D
Equal billing refers to paying all your bills at the end of the year in one lump sum, making budgeting easier by reducing monthly payments.
Verified step by step guidance1
Understand the concept of 'equal billing' as described in the problem. It refers to a payment plan where utility companies average your annual usage and charge you a consistent monthly amount.
Recognize the benefit of equal billing: it helps avoid large fluctuations in monthly expenses, making budgeting more predictable and manageable.
Compare the provided options to identify which one aligns with the definition and benefit of equal billing.
Eliminate options that do not match the concept of averaging annual usage or consistent monthly payments.
Select the correct answer that accurately describes equal billing and its benefit in the context of monthly budgeting.
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