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Answer:
A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals. A budget is basically a financial plan for a defined period, normally a year that is known to greatly enhance the success of any financial undertaking.
Explanation:
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Answer:
Operating Budget
Explanation:
An "Operating Budget" is crucial for a company in terms of planning its operations. It shows the company's revenue and expenses over a period of time.
It is composed of the following components: revenue, variable costs, non-cash expenses, non-operating expenses and capital costs.
The Operating Budget is planned ahead of time. It becomes a goal which the company tries to follow or achieve in order to become more profitable.