Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Business Arithmetic

Question:
Which of the following is most appropriate in respect of "Budget"?
Options:
A budget is a quantitative expression of a plan for a defined period of time.
A budget is a qualitative expression of a plan for a defined period of time.
A budget is both quantitative and qualitative expression of a plan for a defined period of time.
A budget is a quantitative expression of a plan for a short duration.
Correct Answer:
A budget is a quantitative expression of a plan for a defined period of time.
Explanation:
For any business, a budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses etc.