Fred, a supervisor at JK Inc., is drafting a report on his department's estimated expenses for the coming fiscal year and the precise allocation of available capital to areas such as rent, employee wages, and insurance. Fred is most likely formulating a(n) ________.
A) strategic plan
B) contingency plan
C) strategic budget
D) operating budget

Question

Quizplus · Accepted Answer

Fred is most likely formulating an operating budget, which is a detailed plan outlining the estimated expenses and allocation of available capital for a specific period, such as a fiscal year. A strategic plan focuses on an organization's overall goals and objectives, while a contingency plan outlines procedures to follow in case of unforeseen events. A strategic budget is a budget that aligns with an organization's long-term goals and objectives.

Fred, a Supervisor at JK Inc