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Questions and Answers
Which factor is used to calculate the monthly budget?
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)?
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?
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?
How is the monthly budget calculated?
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What is the purpose of the Cash Expenditure Plan (CEP)?
What is the purpose of the Cash Expenditure Plan (CEP)?
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What is the formula used to calculate the monthly budget?
What is the formula used to calculate the monthly budget?
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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.
