The First Step in Building a Budget Is

question 26

Multiple Choice

The first step in building a budget is

• A) Collecting data
• B) Forecasting output
• C) Estimating revenue
• D) Estimating expenses
• E) Identifying the type of budget to be constructed

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Definitions:

Informational Reports

Documents or presentations that provide data, analysis, and conclusions on a specific topic, without offering opinions or recommendations.

Monitor And Control Operations

The process of overseeing and adjusting activities and processes within an organization to ensure they meet standards and objectives.

Compliance

The act of conforming to a rule, standard, or law.

Business Plan

A detailed document outlining the objectives, strategies, financial forecasts, and market analysis for a business.