Q1) (Write in box “True or False “ ) A. The most forward-looking budget is the strategic plan, which sets the overall goals and objectives of the organization. ( ) B. An activity-based flexible budget is based on budgeted costs for different activity and related cost driver. ( ) C. Managers trying to evaluate the effects of changes in volume of goods or services produced might not be interested in upward changes such as increased sales expected from increases in promotion or advertising.
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.
Q1) (Write in box “True or False “ )
A. The most forward-looking budget is the strategic plan, which sets the overall goals and objectives of the organization.
( )
B. An activity-based flexible budget is based on budgeted costs for different activity and related cost driver.
( )
C. Managers trying to evaluate the effects of changes in volume of goods or services produced might not be interested in upward changes such as increased sales expected from increases in promotion or advertising.
( )
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