From the explanation below, budgeting is the process of planning future business actions and expressing them as a formal plan.
Budgeting is the process of planning future business actions and expressing them as a formal plan.
Budgeting is said to be expressed as a formal plan because it provides a framework for the financial goals of a company, usually for the following three to five years.
Therefore, budgeting outlines how the formal plan will be executed periodically, taking into account things like revenue, expenses, reduction in debt, and future cash flow.
Learn more about budgeting here: https://brainly.com/question/18803390.
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