________ are itemized forecasts of a company's income, expenses, and capital needs and are also an important tool for financial planning and control.

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Budgets are itemized forecasts of a company's income, expenses, and capital needs, and they provide a way to plan and control a company's finances. Profitability statements and financial statements are reports that show how a company is doing financially, but they do not provide the same level of detail or planning capabilities as a budget. Owners' equity statements and statements of cash flows are also important financial reports, but they focus on specific aspects of a company's finances rather than providing a comprehensive view of its financial situation.

________ Are Itemized Forecasts of a Company's Income, Expenses, and Capital