A formalised financial plan for organisational operations in the coming year is best described as a
A) Long-term strategy
B) Short-term operating plan
C) Budget
D) Decision right

Question

Quizplus · Accepted Answer

A formalised financial plan for organisational operations in the coming year is commonly referred to as a budget. Budgets outline projected revenue, expenses and cash flow for a given period of time, typically a year. While a long-term strategy may include financial goals, it often focuses on broader, more strategic objectives. A short-term operating plan is typically more detailed and focused on day-to-day operations, rather than overarching financials. A decision right is a concept related to decision-making authority within an organization, and is not directly related to financial planning.

A Formalised Financial Plan for Organisational Operations in the Coming