What is budget in your own words?

A budget is a spending plan based on income and expenses. In other words, it’s an estimate of how much money you’ll make and spend over a certain period of time, such as a month or year. Budgeting can involve making a comprehensive list of expenditures or focusing on a few categories.

What is budget language?

A document, submitted to Administration and Finance by all state agencies, which contains a detailed estimate of projected spending and revenue for the current year. The Spending Plan usually includes a detailed maintenance budget estimate for the following year as well.

Which type of budget is best?

A government budget is said to be a deficit budget if the estimated government expenditure exceeds the expected government revenue in a particular financial year. This type of budget is best suited for developing economies, such as India.

What are the basic elements of a budget?

All basic budgets have the same elements: income, fixed expenses, variable expenses, discretionary expenses and personal financial goals. By combining these elements, a person can create a simple monthly budget.

What is an antonym for budget?

Antonyms for budget: high-ticket, stiff, inflated, high-end, invaluable, luxurious, high-quality, ultraexpensive, deluxe, valuable, pricey, high, exorbitant, premium, prohibitive, dear, prohibitory, overpriced, steep, priceless, spendy, costly, debt, unreasonable, increased, extravagant, precious.

What does budget items mean?

budget items – the expense of maintaining property (e.g., paying property taxes and utilities and insurance); it does not include depreciation or the cost of financing or income taxes. operating cost, operating expense, overhead.

What is a budget used for?

A budget is a financial document used to project future income and expenses. Starting and maintaining solid, professional accounting practices is essential for the growth of a business.