Social Studies, 07.07.2019 23:30 mauricestepenson791

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

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Answer from: destinybonmer

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.

Answer from: tonio638

The main purposes of a budget include the following:

A. To record past income and spending.

C. To plan future income and spending.

E. To balance available resources and expenses.

A budget can be defined as a financial plan that is used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year.

Basically, budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The main purposes of a budget include the following:

A budget is used to record past income earned and spending on various things.A budget is used to plan future income and spending.A budget is used to balance available resources and expenses.

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