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Additional Questions: Making a budget | Introduction to Financial Markets for Class 9 PDF Download

Q.1. What do you mean by Budget? 

A budget is a plan which helps us to manage our limited financial resources more efficiently so that we can achieve our goals.


Q.2. State the difference between Discretionary and Non-Discretionary expense. 

Discretionary expense is an expense where we can have better control like fooding expense and Non Discretionary expense  is an expense which is fixed in nature and we have no or very less control over it like House Rent.


Q.3. What is Budget Review?

After preparing the budget it has to be reviewed continuously to see if there is any deviation between inflow and outflow of cash and in case of deviation the budget has to be revised to suit the needs.

The document Additional Questions: Making a budget | Introduction to Financial Markets for Class 9 is a part of the Class 9 Course Introduction to Financial Markets for Class 9.
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