Acme Inc. reported the following information for 2021: Budgeted sales $204,000 $190,000 $258,000 . All sales are on credit. . Customer amounts on account are collected 50% in the month of sale and 50% in the following month. How much cash will Acme receive in November? O 114,000 O 102,000 October November December O 197,000 O 95,000
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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