Preparing a farm budget in advance is known as:

Correct option is C

✅ (c) Farm planning: • Farm planning is the process of systematically outlining and organizing all farm activities in advance. • It includes estimation of resources, enterprise selection, crop-livestock combinations, and budget projections. • It is broader than budgeting and provides a holistic framework for farm decision-making.
❌ (a) Farm budgeting: • Focuses only on monetary aspects, like profit and loss, not complete planning.
❌ (b) Partial budgeting: • Evaluates minor changes in existing farm operations.
❌ (d) Advanced statement: • Not a standard term in farm management.