Examlex
Risk is defined as the chance (probability) of actually observing outcomes that are greater than expected, or favorable.Such outcomes are more desirable than observing less-than-expected events, so the possibility that positive outcomes will occur must be emphasised when evaluating risk.
Budget
An internal financial plan that forecasts expenses and income over a set period of time.
Strategic Financial Plan
A comprehensive evaluation and planning document that outlines an organization's financial goals and the strategies to achieve them.
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