Choose the correct statement: a budget is:
A)a statement of past results based on future estimations
B)a detailed short-term plan that shows the present financial situation
C)a detailed short-term plan that shows the past financial situation
D)a statement of future estimations based on past results

Question

Quizplus · Accepted Answer

A budget is essentially a financial plan for a defined period, often one year, which is based on past financial results and future projections. It helps in planning and controlling finances by estimating future income and expenses.

Choose the Correct Statement: a Budget Is