A statement of expected results expressed in numerical term which quantifies future facts and figures represent which type of plan?
A statement of expected results expressed in numerical term which quantifies future facts and figures represent which type of plan?
Solution
Option 1 -> Objectives are goals or targets to be achieved, but they are not necessarily expressed in numerical or quantitative terms.
Option 2 -> Policies are general guidelines or principles that guide decision-making and actions, not numerical statements.
Option 3 -> Budget is a financial plan that expresses expected results in numerical terms, quantifying future revenues, expenses, and other financial figures.
Option 4 -> Procedures are step-by-step sequences of actions to perform specific tasks, not quantitative statements.
Hence, Option 3: Budget -> A budget is a statement of expected results expressed in numerical terms that quantifies future facts and figures such as income, expenditure, production units, or man-hours, making it a quantitative plan -> correct
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