ECONOMICS

Detailed explanation-1: -An operating budget is a detailed projection of what a company expects its revenue and expenses will be over a period of time. Companies usually formulate an operating budget near the end of the year to show expected activity during the following year.

Detailed explanation-2: -A sales budget is a financial plan that estimates a company’s total revenue in a specific time period.

Detailed explanation-3: -PRODUCTION BUDGET: The production budget is prepared on the basis of estimated production for budget period. Usually, the production budget is based on the sales budget.

Detailed explanation-4: -An operating budget, also known as an operational budget, is a document that contains all expenditure and revenue that a company expects to generate from its daily operations during a specific period of time.

Detailed explanation-5: -The three types of budgets are a surplus budget, a balanced budget, and a deficit budget. The state budget is a financial document including income and expenditure for the year. An income-and expense-based spending plan is referred to as a budget.