Characteristics of budgets include: (Check all that apply.)Multiple select question.expressed in nonfinancial terms.a focus on the past.expressed in dollars.typically cover a month, quarter or one year.typically span 5 to 10 years.formal statement of a company's plans.

The characteristics of budgets include:

1. Expressed in dollars: Budgets are financial plans and are therefore expressed in monetary terms, usually in the currency of the country where the business operates.

2. Typically cover a month, quarter or one year: Budgets are usually prepared for a specific period of time, often for a fiscal year, but can also be broken down into quarterly or monthly budgets to allow for more detailed planning and control.

3. Formal statement of a company's plans: A budget is a formal document that outlines a company's financial and operational goals. It serves as a roadmap for the company's future activities and provides a benchmark against which actual performance can be measured.

The characteristics of budgets do not include:

1. Expressed in nonfinancial terms: While budgets can include nonfinancial objectives, they are primarily financial documents and are therefore typically expressed in financial terms.

2. A focus on the past: Budgets are forward-looking documents. They are based on future expectations and plans, not past results.

3. Typically span 5 to 10 years: While some companies may have long-term plans that span several years, budgets typically cover shorter periods, such as a month, quarter, or year. This allows for more accurate forecasting and better control.