The area of accounting that deals with the preparation of plans and forecasts of future operations is called:

Question

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Budgeting involves the process of preparing plans and forecasts of future operations, including financial projections and cash flow analysis, to guide decision-making and resource allocation. Auditing deals with the review and verification of financial records, while costing focuses on determining the cost of producing goods or services. Liquidating involves winding up a business and selling off its assets to pay off debts.

The Area of Accounting That Deals with the Preparation of Plans