Question

What are the main purposes of a budget? Select three options. to record past income and spending to take out a student loan from the bank to plan future income and spending to apply for a mortgage to balance available resources and expenses

Answer 1

To record past income and spending, to plan future income and spending, to balance available resources and expenses

Answer 2

The correct choices are;

to record past income and spending

to plan future income and spending

to balance available resources and expenses  

Budgeting is a fundamentally vital piece of the business arranging process. Entrepreneurs and administrators should have the capacity to anticipate whether a business will make a profit or not. The motivation behind budgeting is essentially to give a model of how the business may perform, fiscally, if certain procedures, occasions, plans are done.  

The purpose of budgeting is to give a monetary structure to the basic leadership process i.e. is the proposed course activity something we have made arrangements for or not.