Question

Differentiate between budget and procedure

Answer 1

Difference between budget and procedure:

Basis	Budget	Procedure
Meaning	They are the statements of expected results expressed in numerical terms.	It provides guidelines to the action, prescribing the steps to be taken, persons to perform and also the time limit for completion of work.
Flexibility	It is flexible, as it can be changed if the situation so demands.	It prescribes the set of sequence of activities without any discretion to manage. Hence, a procedure is rigid.
Formulation	They are pronounced at higher levels.	They are more prevalent at lower levels.