Which of the following are formal written forecasts of revenues and expenses that set spending limits based on operational forecasts?
A) profit and loss statements
B) business predictions
C) budgets
D) financial forecasts

Question

Quizplus · Accepted Answer

Budgets are formal written forecasts of revenues and expenses that set spending limits based on operational forecasts. Profit and loss statements and financial forecasts are related to financial performance but do not necessarily involve setting spending limits. Business predictions could refer to a variety of different types of forecasts and may not necessarily be formal or written.

Which of the Following Are Formal Written Forecasts of Revenues