A spending plan updated once per year would be described as:

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Multiple Choice

A spending plan updated once per year would be described as:

Explanation:
Updates happening once a year are described as yearly (annual). This term matches a frequency of once per calendar year, so the spending plan is refreshed one time each year. The other options describe different intervals: daily means every day, quarterly means four times a year (every three months), and biennial means every two years. Since the update occurs once per year, the correct descriptor is yearly (annually).

Updates happening once a year are described as yearly (annual). This term matches a frequency of once per calendar year, so the spending plan is refreshed one time each year. The other options describe different intervals: daily means every day, quarterly means four times a year (every three months), and biennial means every two years. Since the update occurs once per year, the correct descriptor is yearly (annually).

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