Accounting Dictionary
Budget
A budget is a financial plan expressed in dollars.
ABC Company budgeted $50,000 for salaries. That means ABC plans to spend $50,000 on salaries. If they spend $55,000 we would say they are over budget. They spent more than they planned. If they spend $45,000 we would say they are under budget, they spent less than planned.
https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/budget/
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