Examine the statements-Assertion (A) and Reason (R) given below and answer correctly using the codes:

Assertion (A) : A budget is a balanced estimate of expenditures and receipts of a given period of time.

Reason (R) : In the hands of an educational administrator, the budget is a record of past performance, a method of current control and projection of future plans.

1
Both (A) and (R) are true
2
Both (A) and (R) are true and (R) is not the correct explanation of (A)
3
(A) is true, (R) is false
4
(A) is false, but (R) is true

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