The process by which a person or an organization reduces the amount of money it spends

The process by which a person or an organization reduces the amount of money it spends
a. Budgeting
b. Retrenchment
c. Saving
d. Closure

Answer & Explanation:

The correct answer is Retrenchment (option- b). Originally, retrenchment means downsizing a company.
Budgeting is a plan to spend money.
Saving is to save for future use.
The closure is to permanently close or shut down a company.