ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gather financial records
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Track spending
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Expand earning avenues
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Balance the budget
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Detailed explanation-1: -Expert-Verified Answer. Expand Earning Avenues is not a step involved in creating a budget. Hence, option C is appropriate.
Detailed explanation-2: -Explanation for correct answer: Preventing net operating loss is not a part of budgeting as the budget is prepared towards finding realizable goals.
Detailed explanation-3: -Calculate your earnings. Pay your bills on timeTrack your expenses. Set financial goals. Review your progress. 17-Sept-2019
Detailed explanation-4: -Calculate your net income. List monthly expenses. Label fixed and variable expenses. Determine average monthly costs for each expense. Make adjustments.
Detailed explanation-5: -Assess your financial resources. The first step is to calculate how much money you have coming in each month. Determine your expenses. Next you need to determine how you spend your money by reviewing your financial records. Set goals. Create a plan. Pay yourself first. Track your progress.