Which of the following is an example of the planning function of the budgeting process? A. Budget figures are used to evaluate the performance of managers. B. A budget demands integrated input from different business units and functions. C. The budget outlines a specific course of action for the coming period. D. Employees are motivated to achieve the goals set by the budget.

The correct answer is letter "C": The budget outlines a specific course of action for the coming period.

Explanation:

Budgets are estimates of the expenditures a firm expects over a certain period. They serve as tools to measure the amount of money the company should use to conduct its different activities. In most cases, managers of each department within an organization handle their own budgets to be provided to the central department in charge of budgeting the overall firm budget which will approve or adjust the unit's budget.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20