Question

What is the importance of budget to the economy?

Answer 1

Budget is important for the economy as it helps in the following functions:

1. Planning of financial affairs.
2. Controlling of financial resources

Also read:

• Budget Deficit
• Difference Between Standard Costing and Budgetary Control
• The Consumers Budget
• Balanced Surplus and Deficit Budget
• Difference Between Capital Expenditure and Revenue Expenditure
• Government Budget and the Economy

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