Distinguish between budgeting and forecasting


Question:

Assume you are starting a new business. Write a half page explanation of the difference between budgeting and forecasting and the purpose of each.

Create an example of a budget and an example of a forecast using imaginary numbers from your start-up business. Your budget and your forecast should contain income(sales of product or services) cost of goods sold, expenses, operating capital (sources)

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Finance Basics: Distinguish between budgeting and forecasting
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