A formal statement of future plans,usually expressed in monetary terms,is a:

A) Variance report.
B) Position statement.
C) Budget.
D) Prospectus.
E) Variance analysis.

A budget is a formal statement of future plans, usually expressed in monetary terms. A variance report is an analysis of the differences between planned and actual results. A position statement is a summary of a company's financial position. A prospectus is a document that provides details about a company's investment opportunity. Variance analysis is the process of analyzing the differences between planned and actual results.