A budget is a financial plan for a defined period of time, usually a year. While budgets are typically associated with the income (projected sales volumes and revenues) and expenditure (e.g. production costs (resource quantities and prices), and other expenses (e.g. salaries, rent etc.), budgets can be extended to assets and liabilities (e.g. a CAPEX budget), a cash flow budget or project budget, to name but a few.
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