Which option is NOT considered a control budget?

A control budget is a financial tool used by organizations to plan and monitor financial performance. It consists of budgets that guide the financial activities and help ensure that the organization operates within its planned financial limits.

The operating budget outlines the expected revenue and expenses for day-to-day operations. The capital budget focuses on investments in long-term assets like equipment and infrastructure. The cash budget is essential for managing cash flow, ensuring that a business has enough liquidity to meet its obligations.

Variances, on the other hand, refer to the differences between budgeted and actual performance. Variances are not a standalone budget but rather a measurement tool used to analyze the effectiveness of the control budgets mentioned previously. Thus, since variances do not represent a budget themselves, but rather an analysis derived from the control budgets, they are not considered a control budget.