Please choose Budgets are used to.. A) increase the book value of its assets B) calculate the income tax liability C) formulate company strategies?

Option C - It's actually very useful to understand how budgets work and how to write a budget and read one. You can tell a lot about the financial well being of a company from looking at its budget. 

The correct option is (c), thanks for referring.

C. Formulate company strategies

Option C is correct Answer.. An effective budget function supports the funding of federal agencies, allowing them to fulfill their mission and deliver their programs. Budget formulation is an essential step in the process of securing financial resources for the agency. Producing a solid budget submission also leads to better decision-making about future program activities and budget strategies.

Budget is an estimate of income and expenses for a particular period of time. These budgets are prepared in line with the Company strategies. Therefore Option C is right.

Budgets are tools used basically to plan and control income and expenditures in the future. Hence Option C is the best answer among available options.