Rachael Straub works in finance for a small microbrewery. This week Rachael is working on a budget for the next 12 months. She has been doing research to determine prices for the new equipment they will need in the next 12 months to stay competitive in this market. Which of the steps in financial planning is Rachael involved in?
a) Establishing financial controls and tax policy.
b) Forecasting short-term financial needs.
c) Developing financial statements for outside investors.
d) Developing budgets to meet financial needs.
Answer: B