ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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assign responsbility
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keep investigate the previous budget
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review the history of events
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know the level of financial in the company
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Detailed explanation-1: -Try the 50/30/20 rule as a simple budgeting framework. Allow up to 50% of your income for needs. Leave 30% of your income for wants. Commit 20% of your income to savings and debt repayment.
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: -For any organization, a budget, whether done annually or conducted throughout the year in the form of rolling forecasts, is a critical component for success. Any successful budget must connect three major elements – people, data and process.
Detailed explanation-4: -Estimated revenue. This is the money you expect your business to make from the sale of goods and services. Fixed cost. When your business pays the same amount regularly for a particular expense, that is classified as a fixed cost. Variable costs. One-time expenses. Cash flow. Profit.