Are you in agreement with the view that budgeting should better be called ‘profit planning and control’? ‘If sales forecast is subject to error, then, there is no purpose of budgeting.’ Do you agree?...

Are you in agreement with the view that budgeting should better be called ‘profit planning and control’?

‘If sales forecast is subject to error, then, there is no purpose of budgeting.’ Do you agree? Also explain how a flexible budget can be used by management to help control costs.