Chapter 15, Problem 6SL

Summary Introduction

To determine:

The way by which one manages his budget, being a student.

Introduction:

Budgetary control is the most frequently used methods of managerial control. One has to set some targets for the expenditures for a period by taking into account of the income too. The results of the method must be monitored so that a flaw in the current budgetary plan may be rectified in the future. In an organization, a budget is created separately for various departments based on the requirements for each department.