Budgets ( income, expenditure and profit)

Question 1

Budget:

Answer 1

a agreed plan establishing in financial or numerical terms, th policy to be pursued and anticipated outcomes of that policy.

Question 2

Income budget: (revenue or sales budget)

Answer 2

shows the agreed, planned income of a business over a period of time. - covers sales and other sources of income. (e.g rent received, interest, income)

Question 3

Expenditure Budget:

Answer 3

shows the agreed, planned expenditure of a business over a period of time

Question 4

Profit budget:

Answer 4

income less expenditure shows the agreed, planned profit of a business over a period of time.