A budget is best prepared to be

Question

Quizplus · Accepted Answer

A budget is a financial plan that outlines expected income and expenses for a specific period. While it should be as accurate as possible, it is essential to understand that unexpected things can happen, and expenses can change over time. Therefore, a budget should be reasonably accurate over time, allowing for adjustments as necessary. It is not feasible to account for all unpredictable expenses as such expenses are, by definition, unforeseeable. A budget can forecast more than three months if necessary, depending on the individual's needs and goals.

A Budget Is Best Prepared to Be