Which of the following is a balance sheet assumption? Cash on hand Long-term liabilities Cash on hand and long-term liabilities All of these are correct. The role of budgeting in the planning cycle is to: specify the type and number of services to be delivered and determine if the plan is feasible. specify the type and number of services to be delivered and provide funding for chosen goals. determine if the plan is feasible and provide funding for chosen goals. determine if the plan is feasible and establish deadlines for achieving goals