A financial plan of an organization for the coming year or other planning period is called a(n) budget. (Enter only one word per blank.)

The correct term to fill in the blank is "budget."

A budget is a financial plan that outlines an organization’s expected revenues and expenditures over a specific period, typically a year. It serves as a blueprint for financial management, allowing organizations to allocate resources effectively, set financial goals, and monitor performance against these targets. The preparation of a budget involves estimating future income and expenses, which helps in strategic planning and decision-making. Furthermore, a well-structured budget can guide an organization in making informed choices regarding investments, operational costs, and potential savings, ensuring financial stability and sustainability in the long term.