Final answer:
A report comparing actual financial results to budgeted results is known as a performance report. It helps understand deviations in financial planning and control.
Step-by-step explanation:
A report showing the actual financial results for a period compared to the budgeted financial results for that same period would most likely be called a performance report. This type of report is used to analyze how well an organization has adhered to its financial projections and can help in understanding where the actual results deviate from the budgeted amounts. Such a report is crucial for financial planning and control, as it provides insight into areas where an organization is over or underperforming financially. Chart (a) might represent a situation where there are potential results due to an increase in the budget deficit, indicating that actual spending exceeded the planned budget. Conversely, Chart (b) could show potential results of a decreased budget deficit or an increased budget surplus, which would imply that the actual financial results were better than budgeted, with less spending or higher revenues than expected.