Final answer:
A rolling budget is not the same as a continuous budget; both involve updating budgets throughout the year, but they use different methods to maintain future projections.
Step-by-step explanation:
False. A rolling budget and a continuous budget are similar but not identical. A rolling budget is a type of budget that is continuously updated throughout the year by adding a new budget period (like a month or a quarter) as the most recent period concludes.
This means at any point in time, the budget always extends a fixed number of periods into the future. On the other hand, a continuous budget maintains a constant projection into the future, typically for a full year, which continually rolls forward one month or quarter at a time as each month or quarter completes.
It's also an ongoing budgeting approach but focuses on maintaining a full year of budget data ahead.