Consider the following budgets and budget types. 1 (Click the icon to view the budgets and budget types.) Which budget or budget type should be used to meet the following needs? a. Upper management is planning for the next five years. b. Astore manager wants to plan for different levels of sales. c. The accountant wants to determine if the company will have sufficient funds to pay expenses. d. The CEO wants to make companywide plans for the next year.
Consider the following budgets and budget types. 1 (Click the icon to view the budgets and budget types.) Which budget or budget type should be used to meet the following needs? a. Upper management is planning for the next five years. b. Astore manager wants to plan for different levels of sales. c. The accountant wants to determine if the company will have sufficient funds to pay expenses. d. The CEO wants to make companywide plans for the next year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Consider the following budgets and budget types.
A (Click the icon to view the budgets and budget types.)
Which budget or budget type should be used to meet the following needs?
a. Upper management is planning for the next five years.
b.
A store manager wants to plan for different levels of sales.
с.
The accountant wants to determine if the company will have
sufficient funds to pay expenses.
Budget and budget types
- X
d.
The CEO wants to make companywide plans for the next year.
Cash
Cost of Goods Sold
Flexible
Master
Operational
Sales
Static
Strategic
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Budgeting is an activity which involves planning or estimating at various methods and functions.
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