Final answer:
A budget is the quantitative expression of a proposed plan of action by management for a specified period.
Step-by-step explanation:
TRUE or FALSE: A budget is the quantitative expression of a proposed plan of action by management for a specified period.
TRUE: A budget is a financial plan that quantifies the expected income and expenses of an organization or individual for a specific period of time. It is a tool used by management to plan, control, and allocate resources.
For example, a company may create an annual budget that outlines its projected revenue from sales, as well as its anticipated expenses such as manufacturing costs, marketing expenses, and salaries. The budget helps management make informed decisions by providing a clear picture of the financial situation and goals.