Question

Which statement is true of a household budget? A) Essential expenses should be reduced. B) Interest should not be calculated as income. C) Income should be more than expenses. Eliminate D) Variable expenses should be removed.

Answer 1

The statement is true of a household budget is Income should be more than expenses. Thus the correct answer is C.

What is the budget?

The budget is an estimation that records our financial expenses over the income. It helps to control the expenses and by remembering about the income. It helps in setting up limitations on spending.

The household budget includes the purchasing of items related to the house.It reflects how the money will be applied and distributed among various commodities, services, and savings. It includes essentials like grocery, rent, daily maintenance of the house, transportation, and so on.

When planning a budget for a household it should be tried that Income should be more than expenses. Therefore, option C is appropriate.

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