The key difference between a zero-based budget and an incremental budget is: Select one: a. Zero-based budgets use historical information and incremental budgets do not O b. Zero-based budgeting requires managers to start from scratch, while incremental budgeting involves creating budgets based on the previous year's budget O c. Incremental budgeting requires managers to start from scratch, while zero-based budgeting involves creating budgets based on the previous year's budget O d. Incremental budgeting does not include input from the lower levels of the organization, while zero-based budgeting does.
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.
B9).
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