Question

How can budgeting be viewed as a choice process?. Find a cartoon/comic strip image on the Internet to illustrate your discussion. Explain the relevance of this image to your answer. Find and use at least one academic article relevant to your discussion.

Answer 1

* Budgeting is creating a plan to make certain decisions on various expenses. It allows us to know in advance whetheer funds are available to invest in a certain project or not. We can utilize available funds in priority requirements and focus on things that are more important. The projects have to be chosen according to the available funds and budgets are created accordingly. Budgeting is a choice process as various choices have to be made according to budget.

*

* Relevance - The costs may be more but the budget maker have to be tight fisted and have to analyze various projectss and activities and allocate funds accordingly. There may always be a problem of less budgets aavailable to be allocated but the budget maker have to see what is worth allocating more budgets and what not.

* Academic article - Budgeting with bounded multiple-choice constraints by David Pisinger

This scholar paper shows how to select maximum overall gain generating projects and to minimise costs and prvent them.