What is a detailed, quantitative plan that estimates future revenues and expenses?

A detailed, quantitative plan that estimates future revenues and expenses is defined as a budget. Budgets serve as essential financial tools that provide a framework for managing an organization's finances over a specific period, usually a fiscal year.

By outlining expected income and expenditures, budgets help organizations plan and allocate resources effectively, enabling them to achieve financial goals and maintain operational sustainability. They also allow businesses to track performance against financial objectives, assess variances, and adjust their strategies as needed.

The specificity and numerical aspects of a budget make it a critical component in the financial planning process, as it provides a roadmap for decision-making and prioritization of resources. This focus on both revenues and expenses highlights its role in comprehensive financial management, ensuring that all areas of the organization are aligned with their fiscal responsibilities and financial targets.

Other choices do not accurately capture this definition. Financial statements typically summarize past financial performance rather than projecting future outcomes. A forecasting plan might provide estimates or predictions but lacks the structured format and detail of a budget, and a business model describes how a company creates and delivers value rather than estimating financial resources.