Alyssum, Inc., a merchandising company, has provided the following extracts from their budget for the first quarter of the forthcoming year. Purchases on account Jan Feb March $262,000 $292,000 $310,000 The vendors have required the following terms of payment: Month of purchase First month after the purchase Second month after the purchase 30% 35% 35% Calculate the total payment on account for the month of March. OA. $310,000 OB. $164,540 OC. $135,730 D. $286,900
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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