Question $6$

$1$ pts

Island Sporting Goods Inc. has recently incorporated and commenced its operations. As the CEO of the corporation, Tom recognizes the importance of budgeting for optimal operations and has initiated the budgeting process. Which of the following is not a characteristic of budgeting?

Budgeting necessitates the definition of financial objectives.

Budgeting involves establishing goals to achieve objectives within a given timeframe.

Budgeting requires extending past trends and making adjustments for known changes.

The budgeting process is closely associated with describing factors and situations that may affect planned activities.