ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Budget are based on unknown factors
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Requires confidential information be included in the budget
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Time and cost to prepare budget are considerable
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Able to adjust accordingly
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Detailed explanation-1: -Budgeting can help you put aside funds to reach both short-and long-term financial goals, such as making a large purchase like a home or a car or saving for college tuition or retirement. To help you save money, it’s important to adjust your budget over time in response to changing circumstances.
Detailed explanation-2: -A Budget Adjustment (BA) is used to record both income and expense transaction changes against an existing budget (current budget).
Detailed explanation-3: -Budgeting allows you to plan ahead and identify potential financial issues before they arise. By setting targets and monitoring performance, you can make informed decisions that will help you achieve your goals.
Detailed explanation-4: -Helps You Work Toward Long-Term Goals. Can Keep You from Overspending. Can Make Retirement Saving Easier. Helps You Prepare for Emergencies. Can Reveal Spending Habits. The Bottom Line.