Question: 1 . What is the difference between financial planning and financial forecasting? - Financial forecasting requires the preparation of financial statements and financial planning requires

1. What is the difference between financial planning and financial forecasting?
- Financial forecasting requires the preparation of financial statements and financial planning requires predicting future financial outcomes.
- Financial forecasting is used to predict future financial outcomes and financial planning is used to set goals and strategies.
- Financial forecasting refers to the past and financial planning refers to the future.
-They share the same meaning.

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