The budget is more directed towards planning than are the income statement and balance sheet.

Question

Quizplus · Accepted Answer

The budget is a forward-looking financial plan that outlines the expected sources and uses of funds over a specific period, and the allocation of resources towards achieving specific objectives. It is more focused on planning and forecasting than the income statement and balance sheet, which primarily report historical financial performance and the financial position of the organization at a given point in time.

The Budget Is More Directed Towards Planning Than Are the Income