Question

Budgets incorporate managements goals and includes only financial aspects of an operation as those are the...

Budgets incorporate managements goals and

includes only financial aspects of an operation as those are the only items that can be quantified in a profit plan

express management's operating and financial plan for a specified period - usually a fiscal year

are both a short range and long range profit plan

are a strategic long range plan
Business   Accounting   
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Answer #1

Answer is "Express management's operating and financial plan for a specified period.

Explanation.

As the term budget exactly states, it is a financial plan and operating activities planning for a particular period. It might be related to production or sales or departmental budgeting. Budget is used to determine the operating activities/financial planning as per accordance with the management policies. the main objective of budgeting is to plan for a specified and fixed future period of time. The budget is a photostat copy for the desired course of action.Also, one should note that the planning should be prepared in the most accurate fashion. It should not be done on a ad-hoc basis.

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