A plan when expressed in quantitative terms is called _________.
- A. Policy
- B. Procedure
- C. Objective
- D. Budget
Solution
The correct option is (D)
Explanation: A budget is essentially a financial plan that is expressed in quantitative terms. It provides an estimate of revenues and expenditures for a specific period, usually a fiscal year. Budgets are used to allocate resources, track performance, and make adjustments as needed. They are numerical representations of how resources like money, time, and manpower are allocated to achieve specific objectives.
In contrast:
- A policy is a set of general guidelines that outline the organization’s stance or approach to a particular issue but does not usually include quantitative specifics.
- A procedure is a step-by-step guide to perform a particular task or function but is not necessarily expressed in quantitative terms.
- An objective is a specific, measurable goal that an organization aims to achieve but is not itself a financial or resource allocation plan.
Therefore, the correct answer is D. Budget.