M01 - Sync Quiz

How many months are there in a fiscal year?

• Twelve (12)

  months

• Six (6)

  months

• Ten (10)

  months

• Any number of months we want to set!

Answer explanation

When planning the Centre’s operational budget, what components should be included?       

• Income and Expenses

• Income, Fixed and Variable Expenses

• School fees, Salaries and Rent

• Fixed and Variable Expenses

School fees is the main source of revenue for the centre. 

• True.

• False

Staff wages is the largest expense component. 

• True.

• False.

Budget is a plan .....

• written in monetary terms that is prepared and approved prior to a defined period of time.

• usually showing planning income to be generated and expenditure to be incurred during that period. 

• capital to be deployed to attain organizational objectives.

• All the above.