A ________ is a single-use financial plan that covers a specified length of time.

Question

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A budget is a financial plan that outlines expected expenses and revenues for a given period (usually one year). It is a single-use plan as it covers a specific timeframe and needs to be updated for each new period. Policies, procedures, and rules are broader and more long-term in nature, while programs are ongoing initiatives with a specific goal or objective.

A ________ Is a Single-Use Financial Plan That Covers a Specified