You have been charged with taking over the budgeting process for your company. Your manager tells you that you will be working on the second step of the process, as the budgeting team has already completed the first step. What is the step you will be working on$?$

Multiple Choice

Performing employee surveys to determine what costs need to be most closely managed over the coming fiscal year.

Developing expectations about the activities, income, and cash flows, as well as the market factors that may affect the company$$s ability to achieve those goals.

Identifying goals and objectives.

Determining the activities that will be carried out to meet those goals and objectives.