features of budget
Answers
Answer:
A budget is the sum of money allocated for a particular purpose and the summary of intended expenditures along with proposals for how to meet them. It may include a budget surplus, providing money for use at a future time, or a deficit in which expenses exceed income.
FOLLOW ME PLZ
Features of Budget
It is an estimate of the economic activities of an entity which related to a specified future period.
It must be written and approved by the appropriate authority.
It should be modified or corrected, whenever, there is a change in circumstances.
It plays the role of a business barometer that helps in measuring the performance of the business by comparing actual and budgeted results.
It is prepared on the basis of past experiences and trends in the business.
It is a business practice, which is used to forecast the operating activities and financial position of the business.