ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Variance Analysis
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Budgetary Control
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Financial Strategy
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Budget
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Detailed explanation-1: -A budget is a financial plan for a defined period, often one year.
Detailed explanation-2: -A budget plan is a chart that shows you the flow of money in your everyday life. A budget can help you determine where you are overspending as well as help you adjust bad spending habits. By making slight adjustments to your budget, you may have the ability to save more or make larger payments on your debts.
Detailed explanation-3: -Set financial goals. A good financial plan is guided by your financial goals. Track your money. Get a sense of your monthly cash flow-what’s coming in and what’s going out. Get your employer match. Plan for emergencies. Tackle high-interest debt. Invest to build your future goals. 06-Dec-2022
Detailed explanation-4: -Revenue. Cost of goods or services. Total profit or loss (revenue minus cost of goods/services) Operating costs (e.g. rent) General expenses (e.g. marketing, advertising, depreciation) Operating income (total profit minus expenses)