Evaluating the results of business operations against a plan and then making adjustments to that plan is called budgeting.

Name: Evaluating the results of business operations against a plan and then making adjustments to that plan is called budgeting.
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This process is called variance analysis. Budgeting involves preparing a plan for future financial activities, whereas variance analysis compares actual results to those plans and makes adjustments as necessary.

Evaluating the Results of Business Operations Against a Plan and Then