Which of the following terms is used to describe an income statement and its supporting budget schedules?

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Operating budget is the term used to describe an income statement and its supporting budget schedules that outline projected revenue and expenses for a specific period of time. It is the primary budget in most organizations and serves as a blueprint for achieving financial goals. Budgetary slack refers to intentionally overestimating expenses or underestimating revenue to create a cushion or buffer in the budget. Financial budget is a broader term that encompasses all budgets related to financial planning and analysis. Activity-based budgeting (ABB) is a budgeting method that focuses on the cost of each activity performed by a company rather than on departmental or divisional costs. Financial planning analysis is a process of evaluating an organization's financial performance and developing strategies to improve it.

Which of the Following Terms Is Used to Describe an Income