One of the tasks that managers at Omaha Company have to complete during the budgeting process is to develop a contingency plan for their organization in case a downturn occurs in their business. This budgeting requirement is an example of:

Question

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Developing a contingency plan is a key activity in the planning phase of the budgeting process. It involves identifying potential risks and creating strategies to mitigate them. Performance measurement involves evaluating the success of the plan, budget coordination involves managing the budget process, and taking corrective action involves making changes to the plan in response to problems that arise.

One of the Tasks That Managers at Omaha Company Have