Question

________________ is a precise financial plan providing estimated revenues and costs and basis for control over future operations.

a.

Budget

b.

Estimation

c.

Prediction

d.

Forecast

Posted under IC 89 Management Accounting

Answer: (a).Budget Explanation:The statement in the question defines a budget as a precise financial plan providing estimated revenues and costs and a basis for control over future operations. Budgets are formal documents that outline the expected financial performance of an organization and serve as a guide for financial planning and control. Estimation, prediction, and forecasting are related concepts but do not capture the comprehensive nature of a budget as described in the statement.

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Q. ________________ is a precise financial plan providing estimated revenues and costs and basis for control over future operations.
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