You are creating a budget for your new business. what should you include? a. all income and expenses. b. fixed expenses but not income. c. income but not variable expenses. d. fixed and variable expenses but not taxes.

The answer is A.

When creating a business budget, include all you income sources and ad both fixed and variable costs and expenses.

The first and most important element of a good business budget is to tally and figure out your income sources. Income sources include things like product sales, earnings, and others. You should also be able to determine the fixed costs and include variable expenses. Variable expenses are those items that do not have a fixed price tag and may include raw materials, commissions, advertising, transportation, printing services, and many others.

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