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'The finance department is in the best position to set budgets for an organization is True.
A budget is an estimate of income and expenses over a specified future period, usually prepared and reassessed on a regular basis. Budgets can be created for individuals, groups, businesses, governments, or anything else that earns and spends money.
A budget is defined as a plan or estimate of the amount needed for living expenses or for a particular purpose. An example of a budget is how much the family spends on all her expenses in a month. An example of a budget is the amount of money a person is willing to spend on a new bed.
These estimates divide the budget into three categories: balance, surplus and deficit.
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