What are the main purposes of a budget? select three options. to record past income and spending to take out a student loan from the bank to plan future income and spending to apply for a mortgage to balance available resources and expenses

The correct choices are;

to record past income and spending

to plan future income and spending

to balance available resources and expenses  

Budgeting is a fundamentally vital piece of the business arranging process. Entrepreneurs and administrators should have the capacity to anticipate whether a business will make a profit or not. The motivation behind budgeting is essentially to give a model of how the business may perform, fiscally, if certain procedures, occasions, plans are done.  

The purpose of budgeting is to give a monetary structure to the basic leadership process i.e. is the proposed course activity something we have made arrangements for or not.

The main purposes of a budget include the following:

A. To record past income and spending.

C. To plan future income and spending.

E. To balance available resources and expenses.

A budget can be defined as a financial plan that is used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year.

Basically, budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The main purposes of a budget include the following:

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