MANAGEMENT

Detailed explanation-1: -The incremental budgeting method is one of the most frequently used techniques. All you have to do is adjust the existing or last fiscal period budget by an increment or percentage to obtain the new or current year’s budget.

Detailed explanation-2: -Saves Time and Money When you are unable to compare actual costs with projected costs, you will have no way of measuring the efficiency of the project. By creating a carefully constructed budget, you will be able to manage the project.

Detailed explanation-3: -The three types of budgets are a surplus budget, a balanced budget, and a deficit budget. The state budget is a financial document including income and expenditure for the year. An income-and expense-based spending plan is referred to as a budget.