Question : Assertion: Budget is a quantitative expression of a plan.
Reason: Budgets involve financial estimates and allocations for various activities.
Option 1:
Both assertion and reason are correct, and the reason is a correct explanation.
Option 2: Both assertion and reason are correct, and the reason is not correct explanation.
Option 3: Assertion is false, but the reason is correct.
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Option 4: Assertion is correct, but the reason is false
Correct Answer:
Solution : The correct answer is (a) Both assertion and reason are correct, and the reason is a correct explanation.
The assertion correctly states that a budget is a quantitative expression of a plan. The reason provides additional information, explaining that budgets involve financial estimates and allocations for various activities, which supports and explains the assertion.
Question : Assertion: Budgets help in allocating resources in a planned manner.
Reason: Budgets are related to resource allocation.
Option 4: Assertion is correct, but the reason is false.
Question : Assertion: Budgets help in evaluating the performance of different households.
Reason: Budgets do not provide any information on departmental performance.
Question : Assertion: Budgeting is a part of the planning process.
Reason: Budgets are prepared after the implementation phase of a plan.
Question : Assertion: Budgeting helps in controlling expenditures.
Reason: Budgeting does not involve any control measures.
Question : Assertion: A budget is a statement of future income and expenses.
Reason: Budgeting is not related to financial forecasting.
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