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Question
The process of preparing budgets is known as ______.
Options
Budgeting
Banking
Marketing
Pricing
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Solution
The process of preparing budgets is known as Budgeting.
Explanation:
Budgeting is the systematic process of preparing budgets, which involves quantitative plans for expected revenues, expenditures, and resource use for a future period. It aids planning, coordination and control, unlike banking, marketing or pricing.
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