Answer in 200 words + referencePlease format with the following: question answer

Answer in 200 words + referencePlease format with the following: question answer reference. Question answer reference.1). Please differentiate between an operating budget and a financial budget. Differentiate between sales forecast and a sales budget.2). Budgeting for a manufacturing company is completely different from budgeting for a retail company. Do you agree? Please explain.3). The Markov technique involves forecasting sales by examining consumer behavior. True or False. Please explain.4). Pro forma statements are those statements prepared in conjunction with continuous budgets. Do you agree? Please explain. How do strategic planning long-range planning and budgeting differ