I would say not ‘C’, because it would be irresponsible to purposely budget inaccurately. And not ‘B’ because it confuses the budgeted goal with actual results.
I would also eliminate ‘A’ because, though it could be correct in a sense, it also means an inaccurately low receivables goal was budgeted two years in a row when more could easily be purchased, as the results have proven.
The answer would be ‘D’ which depicts receivables in excess of those budgeted because the goal for collecting them was too aggressive (a good way to set goals: aggressively).
I would infer that your business is factoring or some kind of receivables financing.