The expenditure categories for your budget should be determined by
A)the BLS Urban Family Budget categories.
B)purchased budget book headings.
C)those used in previous years.
D)current and expected future spending.
E)itemized tax deductions.

Question

Quizplus · Accepted Answer

The best way to determine expenditure categories for a budget is by current and expected future spending. This ensures that the budget is based on actual needs and priorities rather than pre-determined categories that may not align with one's individual circumstances. While the BLS Urban Family Budget categories and purchased budget book headings may be useful as a starting point, they should not be the sole determining factor in creating a budget. Previous years' spending may also be informative but should be interpreted in the context of any changes in income or expenses. Itemized tax deductions are not relevant to determining expenditure categories for a budget.

The Expenditure Categories for Your Budget Should Be Determined by