Kabelo and Hendrik are joint owners of Fitness Gym. At the beginning of each year, they draw up the budget afresh and it is expected that they have to justify anew their budget requests for the year to each other. Although this approach has led to better prioritisation of their resource allocations, their partnership is taking strain with the justification of their activities and expenses to each other. Which type of budgeting do Kabelo and Hendrik use at Fitness Gym? Select one: O a. Traditional budgeting O b. Zero-based budgeting O c. Collaborative budgeting Od. Annual budgeting
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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