It's a detailed financial report that looks forward, based on expected income and expenses.
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A. B. C. D.C
The correct answer to this question is C. Budget.
A budget is a detailed financial report that outlines expected income and expenses for a specific period, typically one year. It is a forward-looking document that helps individuals, businesses, and organizations plan and manage their finances effectively.
A budget typically includes projected income from various sources such as sales, investments, and loans, as well as estimated expenses such as salaries, rent, utilities, and other operational costs. The budget also includes a breakdown of these income and expense items into categories, making it easier to track and analyze financial performance.
By creating and following a budget, individuals and organizations can make informed decisions about how to allocate their resources, avoid overspending, and ensure they have enough funds to cover their expenses. A budget can also be used to identify potential areas for cost-cutting and help prioritize spending based on goals and objectives.
In contrast to a balance sheet, which provides a snapshot of an organization's financial position at a specific point in time, and an income statement, which shows revenues and expenses over a specific period, a budget is a forward-looking document that helps predict future financial performance. Equity turnover, on the other hand, is a measure of how effectively a company is using its shareholder equity to generate revenue.
Therefore, the correct option that describes a detailed financial report that looks forward, based on expected income and expenses, is a budget (option C).