ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Budgeting
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Gross income
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Variable expenses
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None of the above
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Detailed explanation-1: -The federal budget comprises three primary components: revenues, discretionary spending, and direct spending.
Detailed explanation-2: -And the internet is full of articles on the elements needed to create an effective budget: income, fixed expenses, variable expenses, and unplanned expenses. Those things are important, and plenty of financial experts can tell you how to incorporate them into a budget.
Detailed explanation-3: -The 7 different types of budgeting used by companies are strategic plan budget, cash budget, master budget, labor budget, capital budget, financial budget, operating budget.
Detailed explanation-4: -At its core level, budgeting requires tracking five specific elements: income; expenses; savings; debt payments; and assets.