Final answer:
The expense budget (d.) is used for parts of an organization that have costs without direct revenue, such as HR or customer service. It helps manage these costs to contribute to a balanced budget and address the difference between income and expenditure over a fiscal year.
Step-by-step explanation:
The correct answer to the question which budget is used for areas of the organization that incur expenses but no revenue is d. Expense budget. An expense budget is designed specifically for managing expenses within an organization, department, or project that may not have direct revenue generation.
For instance, a department like human resources or customer service may use an expense budget because they perform essential operations for a company but do not directly sell products or services to generate revenue. All levels of government-federal, state, and local-have budgets that show how much revenue the government expects to receive in taxes and other income and how the government plans to spend it.
Accounting for these expenses is crucial for maintaining a balanced budget, and a budget deficit or surplus represents the difference between the tax revenue collected and spending over a fiscal year, starting on October 1 through September 30 of the next year. Budgets can fluctuate significantly due to policy changes and unforeseen events impacting tax and spending plans.