Budgets

Question 1

what is a budget?

Answer 1

A budget is how much money you have concerning revenues and costs.

Question 2

what are the 2 types of budgets?

Answer 2

1) Historical Budget= using old data for budgets
2) Budgeted costs are set at zero

Question 3

what are the difficulties to budgeting?

Answer 3

Budgeting can be demotivating, unrealistic targets, spend it or lose it mentality.