Out of the following options please tell me which are two dimensions or the main aspects of budgeting? Incremental and Zero-Base Budget Strategic Plan and Performance Report Static Budget and Flexible Budget Planning and Control Budget  Effectiveness and Efficiency

Q: what are the first two steps of a master budget? and are there formulas that are used for those…

A: The first two steps of a master budget are as follows: 1) Preparation of sales budget. A sales…

Q: Which of the following is part of the budget preparation process EXCEPT? a) Available resources b)…

A: Budget can be termed as estimation of Revenue and Expenses that can happen in a future. In a simple…

Q: Discuss some of the major benefits to be gained from budgeting.

A: Budget:   A budget is a statement of estimated revenues and expenditures for a specific period of…

Q: Below are different types of budgets. Which one of the following does not consider the whole body of…

A: Master Budget= It is the budget that includes all major heads.  Target budget= It is the estimated…

Q: What are the advantages and disadvantages of the participatory approach to budgeting?

A: Participative budgeting is a budgeting process in which the people who are in the lower levels of…

Q: Explain the differences between participation and non-participation as styles of budgeting and…

A: Budgeting is a crucial aspect of financial management, aiding organizations in planning,…

Q: Discuss why budgets are so important for all organizations. Describe some advantages and…

A: Budgets are an indispensable part of business organizations because they assist business…

Q: Describe the benefits of budgeting.

A:

Q: Multiple Choice gives management flexibility in terms of meeting budget goals. is preferred over a…

A: Flexible budgets reflect a company's anticipated costs based on variations activity levels. Flexible…

Q: When preparing a master budget or a projected income statement , which of the following budgets is…

A: The objective of the question is to identify the first budget that is prepared when creating a…

Q: Which of the budgets listed below is best for managers to use when planning revenues and expenses at…

A: Budget reflects the estimated figures of revenues and expenses over a specified period of time

Q: Select each of the terms with the best description of its purpose. 1. Helps determine financing…

A: Cash budget: This budget helps determine financing needs by forecasting cash inflows and outflows…

Q: What budgeted amounts appear on the flexible budget report? O Actual costs for the budgeted activity…

A: A budget may be prepared as a static budget or a flexible budget. The static budget is prepared at…

Q: master budget include

A: Master budget is a set of budgets of various activities in an entity.

Q: A fixed budget is: Select one: a. A budget for fixed costs b. A budget for fixed assets c. A budget…

A: Given: A fixed budget is: Select one: A budget for fixed costs A budget for fixed assets A budget…

Q: Which one of the following is an operating budget? a.cash budget b.sales budget c.budgeted…

A: Solutions- operating budgets are sales, production or manufacturing, labor, overhead, and…

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: budgeted balance sheet sales budget production budget budgeted…

A: Budgeted balance sheet Explanation ; A financial budget has 3 elements            1. cash budget…

Q: Define Zero Base Budgeting. What are the steps involved in this?

A: The company prepares the budget to make a plan for how the money is spent. Budgeting is very…

Q: Briefly tell how Program Based Budgeting (PBB) interface with the GIFMIS?

A: SOLUTION- Program-Based Budgeting is a budgeting tool where all budgetary information is organized…

Q: Describe scenarios/situations when it is appropriate and when it is not appropriate to use a static…

A: Static budget is also called fixed budget. Static budget does not change with the change in the…

Q: Explain the difference between strategic and operational budgets.

A: Strategic budget: A strategic budget is a long-term financial plan. It achieves the long-term goals…

Q: Item 1 Which of the following is a budget used to project cash flow and likely cash shortfalls…

A: A cash budget is a financial tool that helps businesses and individuals manage their cash flow…