Question

Budgets are

a. key components of planning.
b. financial plans for the future.
c. an identifier of objectives and the actions needed to achieve them.
d. used for communication and coordination.
e. all of these.

Answer 1

The correct answer is option e. A budget is a financial plan for the future that has key components and serves various purposes, including planning, identifying objectives, and communication.

Step-by-step explanation:

A budget has multiple key components and serves various purposes. It is a financial plan for the future, as it helps individuals and organizations plan and allocate their resources. Budgets are also used as an identifier of objectives and the actions needed to achieve them. Additionally, budgets are used for communication and coordination among different stakeholders. Therefore, the correct answer is e. all of these.