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What are the main purposes of a budget? select three options.

Sagot :

tutorAnne

Budgetting  is useful because it helps to record past income and spending , to plan future income and spending , to balance available resources and expenses.

Omitted options are :

1. to record past income and spending

2.to take out a student loan from the bank

3.to plan future income and spending

4.to apply for a mortgage

5.to balance available resources and expenses

What is a budget?

A  budget generally  is referred to as a formal statement  plan for revenue estimation  and expenses based on a specific future period of time with periodic re-evaluation.

In business, a budget acts a yardstick to help organisation to plan their operational activities and develop a spending plan based on the income and expenses, same can be applied to government budget and personal budget.

Types of business budget includes :

  • Master budget
  • Operating budget
  • Financial budget
  • Cash budget
  • Labor budget
  • Capital budget
  • Strategic .

Budgeting is therefore a  fundamentally piece of any business to thrive .

Learn more on budgetting :https://brainly.com/question/11247215

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