Budgeting is a management tool that explicitly shows how a firm will acquire and use resources needed to achieve its goals over a specific time period.

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Budgeting is indeed a management tool that outlines the planned acquisition and utilization of resources to achieve the goals of a firm over a specific period of time. It helps managers to allocate resources efficiently, control expenses, monitor progress, and make informed decisions.

Budgeting Is a Management Tool That Explicitly Shows How a Firm