Question

On the basis of duration which of the following is budget?

• A. Daily budget
• B. Weekly budget
• C. Annual budget
• D. All of these

Hint:

When a question asks to classify items and provides an "All of these" option, check if each individual option fits the classification. If more than one does, "All of these" is likely the correct answer.

Answer 1

The Correct Option is D

Step 1: Understanding the Concept:
A budget is a financial plan for a defined period. Budgets can be classified based on the duration they cover. The question asks to identify which of the given options are valid types of budgets based on their time frame.

Step 2: Detailed Explanation:
- Daily budget: This is a plan for income and expenditure for a single day. It is a short-term budget.
- Weekly budget: This plan covers a period of one week.
- Annual budget: This is a long-term budget that plans finances for an entire year.
All three options represent financial plans distinguished by their duration. Therefore, they are all types of budgets classified on the basis of time.

Step 3: Final Answer:
Since Daily, Weekly, and Annual budgets are all classifications based on duration, the correct option is All of these.