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TeachMeFinance.com - explain budget Budget:
a detailed record of all income earned and spent during
a specific period of time.
budget -- an itemized listing, usually prepared annually, of anticipated revenue and projected expenses.
historic definition... Budget -- English ; an estimate of (statement of probable) revenues and expenditures by the government in the ensuing year, with financial proposals in connection therewith, such as measures for meeting a deficiency or measures for disposing of a surplus. Copyright © 2005 by Mark McCracken, All Rights Reserved. 
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