BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Answer and Explanation: 1. Yes, it is true budget shows plans of management in financial terms.

Detailed explanation-2: -A budget is a tool to track when and how you earn or spend money. Creating a budget is an important pillar of your overall success and security. It allows you to oversee and better understand whether your business has enough revenue (incoming money) to pay its expenses.

Detailed explanation-3: -Begin by listing your fixed expenses. These are regular monthly bills such as rent or mortgage, utilities and car payments. Next list your variable expenses-those that may change from month to month, such as groceries, gas and entertainment. This is an area where you might find opportunities to cut back.

Detailed explanation-4: -The statement is “True” Yes, a budget is the quantitative expression of a proposed plan of action which is prepared by the management of the entity for a particular time period. The budget includes all the actions such as sales volume, revenues, assets, costs, expenses, flows of cash, business activities, and so on.