Describe how many types of budgets are ?

Q: 3. Explain how a flexible budget is used?

A: A flexible budget is a budget that adjusts to a company’s operation or volume levels.

Q: A flexible budget has which of the following characteristics?

A: A flexible budget is a dynamic financial plan that adjusts to changes in activity levels or other…

Q: A budget is a way of

A: A financial budget is prediction of expenses and income for a future period of time. Business…

Q: What is a flexible budget? Explain? Give example?

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: What are the three major objectives of budgeting? Under what circumstances would a static budget…

A: Budgeting is a planning measure by which Business Entity make plan for the expected revenues and…

Q: what are the 3rd and 4th steps to a master budget? Are there formulas that go with these steps?

A: Master Budget: The master budget is the core budget that explains the complete process of the…

Q: Define static budget.

A: Budget is a estimation of revenue and expenses for a future period of time

Q: What type of procedure is a Budget vs. Actual comparison?

A: Budget is a statement of cost and revenue which are estimated at the start of the period  Actual is…

Q: How are specialized budgets prepared? What is the relationship of specialized budgets to the…

A: Budgets are the financial planning of a particular financial item like sales, income, expense, cash,…

Q: Explain the relationship between a simple budget and a flexible budget.

A: Budgeting Budgeting is an important tool which are used for the management of the entity to evaluate…

Q: What is a budget contingency and what are three reasons it might be useful?

A: In the context of project management, a contingency budget is a sum of money set aside to cover…