ECONOMICS
BUDGETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
What are the 2 basic parts of a budget?
|
|
Income and expenses
|
|
|
Assets and liabilities
|
|
|
Cash and loans
|
|
|
Savings and bills
|
Explanation:
Detailed explanation-1: -The 2 main parts of a Government budget are revenue and expenditure of the Government.
Detailed explanation-2: -The three main elements, or parts, of a personal budget are income, expenditures, and savings. Each of the three elements plays a part in ensuring that a household operates and uses their income responsibly.
Detailed explanation-3: -A budget is a plan for managing income and expenses over a set time frame. There are different types of budgets you can use to manage your money. Budgets can help you track spending and live within your means.
Detailed explanation-4: -A written budget will help you: see where you spend money. see where you can save. make a plan for how to spend and save your money.
There is 1 question to complete.