Introduction Budget is a type of plan Term budget
derived from the French wordbougettewhich means little bag or container of documents and accounts It is a plan expressed in monetary terms relating to a specific period of time A budget is effectively used for control purposes.
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Definitions“A plan quantified in monetary terms prepared and approved prior
to a defined period of time, usually showing planned income to be generated and/or expenditure to be incurred during the period and the capital to be employed to attain a given objective”
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