The correct answer is: All of these.
A budget is a financial plan for a specific period of time. It is used to estimate and forecast future income and expenses. It also includes assumptions about the future, such as the level of sales, the cost of goods sold, and the amount of expenses.
Estimation is the process of making a guess about something. In the context of budgeting, estimation is used to predict future income and expenses.
Forecasting is the process of predicting future events. In the context of budgeting, forecasting is used to predict future sales, costs, and expenses.
Assumption is a belief that something is true, even though it is not certain. In the context of budgeting, assumptions are used to make predictions about the future.
For example, a company might budget for \$100,000 in sales in the next quarter. This estimate is based on the assumption that the company will continue to sell at the same rate as it has in the past. The company might also budget for \$50,000 in expenses in the next quarter. This estimate is based on the assumption that the company’s costs will remain the same as they have in the past.
Of course, things can change in the future, so the company’s actual income and expenses might be different from what it has budgeted. However, a budget can help the company to plan for the future and to make sure that it has enough money to cover its expenses.