Why is budgeting useful in agriculture?
Answer and explanation
Correct answer: To plan input expenses and possible income
An agricultural budget estimates expenses on seeds, fertilisers, irrigation, labour and other inputs, along with the likely income from selling the crop. It helps a farmer use resources wisely, arrange cash when needed, and estimate profit or loss. Spending without keeping records is the opposite of budgeting. Exam tip: remember budgeting as advance planning of income and expenditure.
Frequently asked questions
What is the correct answer to this question?
To plan input expenses and possible income
Why is this the correct answer?
An agricultural budget estimates expenses on seeds, fertilisers, irrigation, labour and other inputs, along with the likely income from selling the crop. It helps a farmer use resources wisely, arrange cash when needed, and estimate profit or loss. Spending without keeping records is the opposite of budgeting. Exam tip: remember budgeting as advance planning of income and expenditure.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Traditional occupations in India - Agriculture.
