Q.Assertion (A) : A budget is a valuable management tool used as a guide for allocation of resources and for comparison with actual operations. Reason (R) : Budgets are based on factual data from past records of income, expenditures census and labour hours used. Codes :
Correct answer: Both (A) and (R) are correct and (R) is the partial explanation of (A).
Explanation
A budget is a valuable management tool used as a guide for allocation of resources and for comparison with actual operations for deciding the future expenditure plan based on the needs of the family for a given period of time.
A budget is a valuable management tool used as a guide for allocation of resources and for comparison with actual operations for deciding the future expenditure plan based on the needs of the family for a given period of time.