BUISENESS MANAGEMENT
FINANCIAL MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of the following is one step in financial planning for a budget?
|
|
Use percentages to see how much of the total income should be set aside for each expense
|
|
|
Create a spending chart
|
|
|
Create a table for cash gifts and gift cards your received
|
|
|
None of the above
|
Explanation:
Detailed explanation-1: -A static budget is usually the first step of budgeting, which determines how much a company has and how much it will spend. The static budget looks at fixed expenses, which are not variable or dependent on production volumes and sales.
Detailed explanation-2: -How do you make a budget spreadsheet? Start by determining your take-home (net) income, then take a pulse on your current spending. Finally, apply the 50/30/20 rule: 50% toward needs, 30% toward wants and 20% toward savings and debt repayment.
There is 1 question to complete.