Question

A(n) ____ has income and expenses.

expense statement

budget statement

emergency fund statement

income statement

Answer 1

Budget Statement

Explanation:

"An itemized summary of expected income and expenditure of a country, company, etc., over a specified period, usually a financial year"

Answer 2

Answer: Second option is correct.

Explanation:

A budget has income and expenses.

As we know that the budget is prepared to calculate our income and expenses during a particular period of time.

In budget, first we sum all the expenses and then enter all the incomes.

After that we calculate the net saving by subtracting amount incurred in expenses from the amount earned from sources of income.

Hence, Second option is correct.