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Question
A ______ is a judgement that can be made by anybody while a ______ is a plan that requires authority of management.
Options
Budget, forecast
Forecast, budget
Trends, plans
Plans, trends
MCQ
Fill in the Blanks
Solution
A forecast is a judgement that can be made by anybody while a budget is a plan that requires authority of management.
Explanation:
A forecast is a judgement that can be made by anybody while a budget is a plan that requires authority of management. A forecast forms the basis for the budget.
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Comparison Between Budgeting and Forecasting
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