what is called a family budjet ?
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A family budget is a statement which shows how family income is spent on various items of expenditure on necessaries, comforts, luxuries, and other cultural wants. It shows the distribution of the family income over the various items of expenditure.
Explanation:
Types of Family Budget:
Budget can be of three types:
A. Deficit budget:
B. Surplus budget:
C. Balanced budget:
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