Define the term "spending plan" and explain the factors on which the a

1.	Define the term "spending plan" and explain the factors on which the allocation ofmoney on different items is decided.
Answer» Answer: Spending PLAN is the strategy laying process for the spending of money over a period of time. It MIGHT be an indivitual plan or that of a group like lets say a family. Explanation: The factors that drive the allocation of money are: The neccessity of a need makes it come forst or last in the PREFERENCE of fund allocation. The most pressing and basic needs come FIRST followed by the rest. The needs of a family or an individual and also the size of the family.

Define the term "spending plan" and explain the factors on which the allocation ofmoney on different items is decided.

Answer»

Answer:

Spending PLAN is the strategy laying process for the spending of money over a period of time.

It MIGHT be an indivitual plan or that of a group like lets say a family.

Explanation:

The factors that drive the allocation of money are:

The neccessity of a need makes it come forst or last in the PREFERENCE of fund allocation. The most pressing and basic needs come FIRST followed by the rest.
The needs of a family or an individual and also the size of the family.

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Define the term "spending plan" and explain the factors on which the allocation ofmoney on different items is decided.

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