To finalize the budget, compare projected income to projected expenses. When income equals or exceeds total expenses, it is considered a balanced budget is True.
What is a Budget?
A Budget is a proposed plan that contain estimation on the spending plan based on the income and expenditure.
It is an estimate of the amount of money to be made and how much will be spend in a period or a year.
Therefore, it is True because A balanced budget is an estimation of a plan where the income is equal or exceeds the expenditure in a period.
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