A formal written statement of management's plans for the future, expressed in financial terms, is a a. budget b. gross profit report c. performance report d. responsibility report

Question

Carolyn Torres

Business

2 October, 19:45

A formal written statement of management's plans for the future, expressed in financial terms, is a a. budget b. gross profit report c. performance report d. responsibility report

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Evie Mooney · Answer 1

a. budget

Explanation:

The budget refers to the estimation of the revenues earned and expenses incurred so that the company could able to take the decisions according to that.

It also a formal and written statement that shows the management plans for the upcoming future i. e to be expressed in a numerical term or we can say in financial terms

Hence, the correct option is a. budget