Multiple Choice
Which of the following is a step in the budgetary control process?
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1. Introduction to Accounting
Types of Accounting
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Which of the following lists the three main categories of business funding?
A
Assets, Liabilities, and Revenue
B
Cash, Inventory, and Equipment
C
Expenses, Income, and Dividends
D
Equity, Debt, and Grants
Verified step by step guidance1
Understand the concept of business funding: Business funding refers to the methods by which a company secures financial resources to operate, grow, and achieve its objectives.
Identify the three main categories of business funding: Equity, Debt, and Grants. These represent the primary ways businesses acquire financial resources.
Explain Equity: Equity funding involves raising capital by selling ownership stakes in the company, such as issuing shares to investors. This does not require repayment but may dilute ownership.
Explain Debt: Debt funding involves borrowing money, typically through loans or bonds, which must be repaid with interest over time. This does not dilute ownership but creates a liability.
Explain Grants: Grants are funds provided by governments, organizations, or institutions that do not require repayment. They are often awarded for specific purposes or projects.
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