What is an estimate of income and expenditure for a set period called?

• A. Financial Report
• B. Analysis
• C. Budget
• D. Projection

Answer: (C)

The term that refers to an estimate of income and expenditure for a specified period is known as a budget. A budget is a financial plan that outlines expected revenue and expenses, helping organizations and individuals allocate their resources efficiently. It serves as a guideline for spending and a tool for financial management, allowing entities to monitor their financial performance against their projections over a given timeframe.

While financial reports and projections involve assessing actual performance or forecasting future financial positions, they do not specifically denote the detailed plan for income and expenses that a budget provides. Similarly, analysis generally refers to the process of examining financial data to understand and interpret it, rather than setting forth a structured plan for future financial activity.