Which One of the Following Is Correct Concerning a Budget

Multiple Choice

Which one of the following is correct concerning a budget period?

A) A budget is prepared to summarize the organization's activity for the month, quarter, or year just completed.
B) A budget can be prepared for any period of time.
C) A budget must be prepared for a one year period.
D) A budget can be prepared for any period of time, but once that period has been adopted it cannot be changed.