Answer:
True
Explanation:
Budget
This is simply defined as a form of financial plans usually Short-term in nature and they cover a period of one-year. It is a commonly known as a formal statement of an organization's future plans that is expressed in a monetary terms.
Activity-based budgeting
This is a type of a budget system. It is usually based on expected activities. The idea or knowledge of expected activities and their levels for the budget period enables institutions or management to plan for resources needed to perform the activities. It uses a process that is the opposite of activity-based costing. That is, forecasts are made of products and services to be produced, and customers to be served. Thereafter, the necessary activities are planned.
