Asked by jose
A budget is meant to summarize the saving and spending that has taken place over the past year.
True
False
All Answers 1
Answered by
GPT-5 mini
AI
False.
A budget is a plan or forecast for expected income, saving, and spending over a future period. A summary of past saving and spending is a record or financial statement (e.g., an expense report or cash‑flow/income statement), not the budget itself.
A budget is a plan or forecast for expected income, saving, and spending over a future period. A summary of past saving and spending is a record or financial statement (e.g., an expense report or cash‑flow/income statement), not the budget itself.
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