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.

To record past income and spending, to plan future income and spending, to balance available resources and expenses