ECONOMICS
BUDGETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Budget – An estimate, often itemized, of expected income and expense for a given period in the future.
Detailed explanation-2: -Budget-A plan for managing money, dividing up expected income and expenses among spending and saving options based on personal financial goals during a given time period.
Detailed explanation-3: -A budget plans for and tracks income and expenses over a specific time period. Businesses and governments rely on budgets to track revenues and expenditures, but you might be most familiar with a budget as a tool for managing your finances. Different types of budget systems and methods exist.
Detailed explanation-4: -An operating budget is a detailed projection of what a company expects its revenue and expenses will be over a period of time.