Write T for true and F for false in the space provided before each
statement. If false, write the correct answer in the line given below each
question.
a. _________Budget is the process of allocating income among various uses.
_______________________________________________________
b. _________ Family goals affect the budget.
_______________________________________________________
c. _________A budget forces you to decide what is more important than the
other.
_______________________________________________________
d. _________A budget can’t help in achieving long term goals.
_______________________________________________________
e. _________Budgeting helps in the management of your finance.
_______________________________________________________
f. _________ The main purpose of a budget is to allow you to live within your
income.
_______________________________________________________
Answers
Answer:
all the statment are bad like you face
Answer:
Budget can be defined as the process of allocating separate money to various sectors which helps us attain any personal or professional goals.
Sometimes Budget could also include judicious use of other resources like petroleum budget,fossil fuel budget etc.
Explanation:
Using the above definition
a) TRUE
As budget is itself defined as a systematic process of money allocation
b) TRUE
Family goals play a major role in budget as some money has to be allocated in terms of achieving it.
c) TRUE
A budget is the one which helps you prioritize what you want i.e puts a particular task above the other and helps you allocate money accordingly.
d) FALSE
The main purpose of maintaining a budget is to ensure that there is enough money for us to achieve our future goals.If a proper list isn't maintained money crisis might arise and we might not achieve what we wanted to in the future
e) TRUE
Finance can be very well managed by a budget as it helps us to be accountable and we avoid unnecessary wastage of money
f) TRUE
Budget helps us to analyse our income expenditure curves and we avoid being spendthrifts and live completely within our income and prevents us from getting into debts.