A formal expression of goals and objectives in financial terms is called a(n)
A)mission statement.
B)strategic plan.
C)budget.
D)operational plan.

Question

Quizplus · Accepted Answer

A budget is a formal expression of goals and objectives in financial terms. It outlines projected revenues and expenses for a specific period of time and serves as a tool for financial planning and control. A mission statement is a brief statement of the organization's purpose and vision, while a strategic plan outlines the organization's long-term goals and action plans to achieve those goals. An operational plan details how the organization will achieve its goals on a day-to-day basis. While budgets are often included in strategic and operational plans, they are their own unique financial planning tool.

A Formal Expression of Goals and Objectives in Financial Terms