1.

Distinguish between Budget and Forecast.

Answer»
BudgetForecast
1. Budget shows the policy and programme to be follows in a future period under planned conditions.1. Forecast is a mere estimate of what is likely to happen. It is a statement of probable events which are likely to happen under anticipated conditions during a specified period o
2. It is usually planned separately for each accounting period.2. It may cover a long period or years.



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