Question

The annual period by which businesses and governments keep track of and plan for record-keeping, budgeting, revenue-collecting and other financial matters.

Answer 1

Answer:

The annual period by which businesses and governments keep track of and plan for record-keeping, budgeting, revenue-collecting and other financial matters is known as:

the budget season.

Explanation:

For the federal government, the “budget season” typically refers to the months between February and April each year, when key events occur that contribute to the construction and congressional approval of the annual budget resolution.  Most business entities also engage in budget seasons during which period, they project their annual revenues and expenditure.  During the budget season, businesses evaluate their past performances against the previous budgets in order to pinpoint variances and ways to reduce deviations.