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A budget is a financial plan outlining projected income and expenses over a specific period, typically a month or year. It may encompass anticipated sales, resource allocation, environmental impact assessment, asset valuation, liability management, and cash flow analysis. Businesses, governments, individuals, and other entities utilize budgets to translate strategic objectives into quantifiable terms. Preparing a budget allows companies, authorities, private entities or families to establish priorities and evaluate the achievement of their objectives. To achieve these goals it may be necessary to incur a deficit or, on the contrary, it may be possible to save, in which case the budget will present a surplus. In the field of commerce, a budget is also a document or report that details the cost that a service will have if performed. Whoever makes the budget must adhere to it and cannot change it if the client accepts the service. A budget expresses intended expenditures along with proposals for how to meet them with resources. A budget may express a surplus, providing resources for use at a future time, or a deficit in which expenditures exceed income or other resources.