List the Three Important Guidelines That Should Be Followed in the Budgeting

question 26

Short Answer

List the three important guidelines that should be followed in the budgeting process.

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Definitions:

Unemployment Rate

The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.

Employed

Employed refers to individuals who are working for pay or profit, engaging in a job or business, within a stipulated period.

Unemployed

Refers to individuals who are capable of working and willing to work but cannot find employment.

Misery Index

An economic indicator created by summing the unemployment rate and inflation rate, intending to measure economic discomfort within a country.