Question

31. Budget is prepared for a
(A) Indefinite period
(B) Definite period
(C) Period of one year
(D) Six months​

Answer 1

Answer:

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Explanation:

(c) period of one year

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Answer 2

The correct answer is OPTION B: Definite period.

• An itemised statement of a country's, company's, or other entity's expected income and spending for a specific period, typically a financial year.
• A budget is a financial plan for a set time, usually one year.
• All options include sales and revenue predictions, resource levels, costs and expenses, assets, liabilities, and cash flows.
• Companies, governments, families, and other organisations use a numbered strategic plan of action or events.
• A budget is a predetermined amount of money set aside for a certain purpose, together with a list of estimated costs and advice on how to meet those costs.
• It could be a budget surplus (money set aside for future use) or a budget deficit  (money owed to the government).