The difference between Planning vs. Budgeting is as below, which statement is not correct?
Please choose the correct answer.
Response:
Planning is cost oriented whereas budgeting is funds oriented.
The planning change easily where as budgeting is a binding value and new line item created for each changes.
Planning is based on approved funds whereas budgeting is based on funds requested.
Unutilized budget can be carried forward in subsequent fiscal year but no such function is available in planning.
Submit