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Question

A budget tool that a household can use when there are cuts on supermarket spending and over-budget on its food expenses, is a(n) ____________.

A
planning control
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B
controlling tool
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C
leading tool
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D
organising tool
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Solution

The correct option is C controlling tool
Budgeting is one of the most important of controlling devices. Budgetary control is the process of developing a spending plan and periodically comparing actual expenditures against that plan to determine whether the spending patterns need adjustment to stay on track. This process is necessary to control spending and meet various financial goals.

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