ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Having money left over at the end of the month.
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A plan made in advance regarding the expenditure of money based on available income.
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The ability to pay your bills on time.
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Having enough money to go out to eat.
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Detailed explanation-1: -What is budgeting? (A) Having money left over at the end of the month. (B) A plan made in advance regarding the expenditure of money based on available income. (C) The ability to pay your bills on time.
Detailed explanation-2: -The three types of budgets are a surplus budget, a balanced budget, and a deficit budget. The state budget is a financial document including income and expenditure for the year. An income-and expense-based spending plan is referred to as a budget.
Detailed explanation-3: -The Four Main Types of Budgets and Budgeting Methods. There are four common types of budgets that companies use: (1) incremental, (2) activity-based, (3) value proposition, and (4) zero-based.
Detailed explanation-4: -The budgeting process lets an organization plan and prepare its budgets for a set period. It involves reviewing past budgets, identifying and forecasting revenue for the coming period, and assigning amounts to spend on a company’s various costs.
Detailed explanation-5: -A budget is a spending plan based on income and expenses. In other words, it’s an estimate of how much money you’ll make and spend over a certain period of time, such as a month or year. (Or, if you’re accounting for the incoming and outgoing money of everyone in your household, that’s a family budget.)