What do you understand by the term budgeting?

Balancing of income only

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Balancing of expenditure only

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Balancing of expenditure and income

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Balancing of investments

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Solution

The correct option is C Balancing of expenditure and income
Budgeting is the balancing of expenditure and income. It uses income or the money we have in hand to plan our expenditure accordingly. It is necessary to follow a budget to ensure that one does not fall into bad financial situations.

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