Question

define the term budgets

Answer 1

A budget is a financial plan for a defined period of time, usually a year. It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. Companies, governments, families and other organizations use it to express strategic plans of activities or events in measurable terms

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Answer 2

It is an annual estimate of income and expenditure for a set period of time.