Phil,a supervisor at LM Inc.,is drafting a report on his department's estimated expenses for the coming fiscal year and the precise allocation of available capital to areas such as rent,employee wages,and insurance.Phil is most likely formulating a(n)____.

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Phil is drafting an operating budget, as he is allocating funds to specific areas of the department for the upcoming fiscal year. A strategic plan focuses on long-term goals and objectives, while a contingency plan outlines potential responses to unexpected events. A strategic budget is a type of budget that aligns with the overall strategic plan of the organization.

Phil,a Supervisor at LM Inc