Which of the following is true of a budget? O A. Budgets help managers to revise their plans and strategies. B. Budgets do not account for nonfinancial aspects of the upcoming period. C. Budgets are used to express only the operational plans and not the strategic plans of a company. D. Budgets are most useful when they are planned independent of the company's strategic plans.
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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