Answer :
Final answer:
A personal budget is similar to a profit and loss statement as both track income and expenses for financial assessment.
Explanation:
A personal budget is similar to a profit and loss statement as they both track income and expenses over a specific period of time to assess financial health. Just like a profit and loss statement, a personal budget helps individuals see where their money is coming from and where it is going, allowing for better financial management.
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A personal budget is similar to a profit and loss statement as they both track income and expenses over a specific period of time to assess financial health. Just like a profit and loss statement, a personal budget helps individuals see where their money is coming from and where it is going, allowing for better financial management.