ECONOMICS
TECHNOLOGY
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a plan for using income
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an amount that must be paid
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a personal promise to pay something
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an amount of money that is saved
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Detailed explanation-1: -Budgeting is a tool that helps you analyze how much money you earn or save over a particular period of time and how you plan to spend it. It simply means balancing your expenses with income. Also, it helps to create financial stability.
Detailed explanation-2: -Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income.
Detailed explanation-3: -Income Budget represents the revenue you are projected to receive over the course of the fiscal year, and it is compared to your Income Actuals to track progress. The income budget also serves as the source to support your expenditure budget.
Detailed explanation-4: -A budget plan is a chart that shows you the flow of money in your everyday life. A budget can help you determine where you are overspending as well as help you adjust bad spending habits. By making slight adjustments to your budget, you may have the ability to save more or make larger payments on your debts.
Detailed explanation-5: -Retail price x units sold = sales. Cost to produce x units sold = cost of goods sold. Sales-cost of goods sold = gross profit. Gross profit-selling and administrative expenses = income from operations* Income from operations x tax rate = income tax expense. More items •15-Mar-2021