Which of the following is a type of budget according to the function fixed budget, operating budget, long term budget, flexible budget
Answers
Answer:
The budget of a government is a summary or plan of the intended revenues and expenditures of that government. There are three types of government budget : the operating or current budget, the capital or investment budget, and the cash or cash flow budget
Explanation:
OPERATING BUDGET
OPERATING BUDGET is the type of budget according to function fixed budget.
KEY TAKEAWAYS OF OPERATING BUDGET:
* An operating budget, also known as an operational budget, specifies the funds required to keep your business running smoothly and successfully over a specific time period. It includes all expected income and costs for your company's activities.
Fixed and variable costs, income, and other expenses are often broken out in operating budgets.
*Many firms, like ordinary businesses, generate their new yearly operating budget towards the end of the year. They will be able to plan their budget for the full year and create financial objectives in this manner.
* Nothing, however, is fixed in stone. A company's operating budget may be tweaked throughout the year (e.g., every month) to keep up with any operational changes.