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Mastering Monthly Budgeting and Cash Expenditure Planning Quiz

6 Questions

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Mastering Monthly Budgeting and Cash Expenditure Planning Quiz

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Questions and Answers

Which factor is used to calculate the monthly budget?

Daily rate (correct)

Weekly rate

Hourly rate

Yearly rate

What is the purpose of the Cash Expenditure Plan (CEP)?

To determine the daily rate

To track expenses (correct)

To create a pending report

To calculate the monthly budget

How many days are considered in the calculation of the monthly budget?

29, 30, 31

30, 31, 32

27, 28, 29

28, 30, 31 (correct)

How is the monthly budget calculated?

The State determines the monthly budget by calculating the Daily Rate multiplied by the number of days in the month. Signup and view all the answers

What is the purpose of the Cash Expenditure Plan (CEP)?

The CEP is used to create a spending plan for the State. Signup and view all the answers

What is the formula used to calculate the monthly budget?

Daily Rate x Number of days in the month = Monthly Budget Signup and view all the answers

Study Notes

Calculating Monthly Budget

The Average Daily Expenditure (ADE) is the factor used to calculate the monthly budget.
The purpose of the Cash Expenditure Plan (CEP) is to ensure that the organization has sufficient cash to meet its financial obligations.
30 days are considered in the calculation of the monthly budget.
The monthly budget is calculated by multiplying the Average Daily Expenditure (ADE) by 30 days.
The formula used to calculate the monthly budget is: Monthly Budget = ADE × 30 days.

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Description

Learn how to calculate your monthly budget using the daily rate and number of days in the month. Understand how this budget is used to create the Cash Expenditure Plan (CEP) with SB.