Answer (D) is correct . Strategic budgeting is a form of long-range planning based on identifying and specifying organizational goals and objectives. The strengths and weaknesses of the organization are evaluated and risk levels are assessed. The influences of environmental factors are forecast to derive the best strategy for reaching the organization’s objectives.
Answer (A) is incorrect because Capital budgeting involves evaluating specific long-term investment decisions.
Answer (B) is incorrect because The operating budget is a short-range management tool.
Answer (C) is incorrect because Cash management is a short-range consideration related to liquidity.
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