A budget is:
A) An end-of-year report
B) A forecast
C) A way to solve business problems after they occur
D) The basis for managing inventory

Question

Quizplus · Accepted Answer

A budget is primarily a forecast, a financial plan for a defined period, often one year, that quantitatively describes an organization's planned revenues, expenses, and capital expenditures. It is used to project future income and expenses, helping businesses allocate resources, manage cash flows, and plan for future financial activities.

A Budget Is