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What is the simple meaning of a budget?

Answer and explanation

Correct answer: A prior plan of income and expenses

A budget is a planned estimate of expected income and expenses for a future period. It helps a person or business decide how money will be received, allocated, saved, and spent. Option C is correct because it includes both sides of money management. Earnings alone, borrowing alone, or a market map cannot show how available funds should be managed.

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BudgetIncomeExpensesIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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