Question

personal budget business budget personal budget which savings category is commonly found in both business and personal budgets? emergency fund legal fees expansion fund marketing category description budgeted amount ($) actual amount ($) difference ($) income salary 3,000 3,100 -100 income freelance 500 450 50 housing rent 1,000 1,000 0 utilities electricity 60 65 5 utilities water 40 45 5 utilities gas 30 28 2 utilities internet 50 50 0 food groceries 300 320 -20 food dining out 100 110 -10 entertainment movies 50 55 -5 entertainment concerts 50 63 -13 savings savings account 500 500 0 savings emergency fund 100 100 0 transportation fuel 150 160 -10 transportation parking 50 45 5 transportation insurance 100 100 0 transportation repairs 75 90 -15 transportation train/bus 60 55 5

Explanation:

Emergency funds are set - aside money for unforeseen circumstances. Both individuals and businesses need to prepare for unexpected events like sudden personal health issues or business - related crises. Legal fees are more business - specific, expansion funds are for business growth, and marketing is a business activity.

Answer:

emergency fund