ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The importance is developing a good Budget
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The importance is a principal object
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the main thing is to make money
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make good adjustments
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Detailed explanation-1: -Having a budget keeps your spending in check and makes sure that your savings are on track for the future. Budgeting can help you set long-term financial goals, keep you from overspending, help shut down risky spending habits, and more.
Detailed explanation-2: -Budgeting ensures you’re not spending more than you’re making, allowing you to plan for short-and long-term expenses. It’s an easy, helpful way for people with all types of income and expenses to keep their finances in order.
Detailed explanation-3: -The Union Budget aids in controlling the economic fluctuations as well. It ensures proper handling of inflation and deflation, thus bringing about economic stability. During inflation, surplus budget policies are implemented, while deficit budget policies are devised during deflation.
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.