Answer :
A budget is based on the standards for both the input and output levels. Hence, Option C is correct.
A budget is a series of calculations, typically but not necessarily financial, for a predetermined time frame, frequently a year or a month. Budgets are used by businesses, governments, families, and other groups to define strategic plans of activities in quantifiable terms.
A budget may contain information on expected sales and revenue levels, resource quantities such as time, costs, and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities, and cash flows.
A budget lists proposed ways to raise the funds needed to cover projected expenditures. A budget might show a surplus of resources for future use or a deficit where spending exceeds income or other available resources.
Therefore, Option C is correct.
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