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

Question

Quizplus · Accepted Answer

Budgeting is the area of accounting that involves preparation of plans and forecasts of future operations. Auditing is the examination of financial records to ensure accuracy and compliance. Costing involves calculating the cost of production while liquidating involves the selling of assets to settle debts.

The Area of Accounting That Deals with the Preparation of Plans