As the sales forecast is the usual starting point for budgeting, not-for-profit entities do not prepare budgets as they have no sales.

Question

Quizplus · Accepted Answer

While not-for-profit entities may not have sales in the same way as for-profit entities, they do have sources of revenue (such as donations, grants, and fundraising events) that can be forecasted and used as the basis for budgeting.

As the Sales Forecast Is the Usual Starting Point for Budgeting