A budgeting system that has, in effect, a budget for a set number of periods (that is, a constant planning horizon) at all times is called a(n):

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A rolling financial forecast is a budgeting system that constantly updates its planning horizon based on the current period. This allows for greater flexibility and adaptability as future periods are reevaluated and adjusted based on actual performance in the current period. The other options listed have a fixed planning horizon and may not be as effective in responding to changing circumstances.

A Budgeting System That Has, in Effect, a Budget for a Set