Explain the term budget.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 21, Problem 1Q

a.

To determine

Explain the term budget.

a.

Expert Solution

Explanation of Solution

Budget

Budget is a statement prepared by the management for a specific tenure, to accomplish the goal of management. Budget is basically expressed in the financial terms.

Budget is a statement prepared by the management for a specific tenure in future, to accomplish the goal of management in that particular period of time. Budget is basically expressed in the financial terms.

b.

To determine

Explain the contribution of budget to a good management.

b.

Expert Solution

Explanation of Solution

Budget plays a very vital role in the formulation of plan for the management, as it helps in primary communication upon the agreed objectives of the organization. Budget is used as a primary base for the performance evaluation, after it has been adopted by the management.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

provide correct answer

What is the gross profit rate ?

Whitney received $75,200 of taxable income in 2024. All of the income was salary from her employer. What is her income tax liability in each of the following alternative situations. She is married but files a separate tax return. Her taxable income is $75,200. What is her income tax liability?

Answer 2

Question

Chapter 21, Problem 1Q

a.

To determine

Explain the term budget.

a.

Expert Solution

Explanation of Solution

Budget

Budget is a statement prepared by the management for a specific tenure, to accomplish the goal of management. Budget is basically expressed in the financial terms.

Budget is a statement prepared by the management for a specific tenure in future, to accomplish the goal of management in that particular period of time. Budget is basically expressed in the financial terms.

b.

To determine

Explain the contribution of budget to a good management.

b.

Expert Solution

Explanation of Solution

Budget plays a very vital role in the formulation of plan for the management, as it helps in primary communication upon the agreed objectives of the organization. Budget is used as a primary base for the performance evaluation, after it has been adopted by the management.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 21, Problem 1Q

a.

To determine

Explain the term budget.

a.

Expert Solution

Explanation of Solution

Budget

Budget is a statement prepared by the management for a specific tenure, to accomplish the goal of management. Budget is basically expressed in the financial terms.

Budget is a statement prepared by the management for a specific tenure in future, to accomplish the goal of management in that particular period of time. Budget is basically expressed in the financial terms.

b.

To determine

Explain the contribution of budget to a good management.

b.

Expert Solution

Explanation of Solution

Budget plays a very vital role in the formulation of plan for the management, as it helps in primary communication upon the agreed objectives of the organization. Budget is used as a primary base for the performance evaluation, after it has been adopted by the management.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 21, Problem 1Q

a.

To determine

Explain the term budget.

a.

Expert Solution

Explanation of Solution

Budget

Budget is a statement prepared by the management for a specific tenure, to accomplish the goal of management. Budget is basically expressed in the financial terms.

Budget is a statement prepared by the management for a specific tenure in future, to accomplish the goal of management in that particular period of time. Budget is basically expressed in the financial terms.

b.

To determine

Explain the contribution of budget to a good management.

b.

Expert Solution

Explanation of Solution

Budget plays a very vital role in the formulation of plan for the management, as it helps in primary communication upon the agreed objectives of the organization. Budget is used as a primary base for the performance evaluation, after it has been adopted by the management.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 21, Problem 1Q

a.

To determine

Explain the term budget.

a.

Expert Solution

Explanation of Solution

Budget

Budget is a statement prepared by the management for a specific tenure, to accomplish the goal of management. Budget is basically expressed in the financial terms.

Budget is a statement prepared by the management for a specific tenure in future, to accomplish the goal of management in that particular period of time. Budget is basically expressed in the financial terms.

b.

To determine

Explain the contribution of budget to a good management.

b.

Expert Solution

Explanation of Solution

Budget plays a very vital role in the formulation of plan for the management, as it helps in primary communication upon the agreed objectives of the organization. Budget is used as a primary base for the performance evaluation, after it has been adopted by the management.

Answer 6

Chapter 21, Problem 1Q

a.

To determine

Explain the term budget.

a.

Expert Solution

Explanation of Solution

Budget

Budget is a statement prepared by the management for a specific tenure, to accomplish the goal of management. Budget is basically expressed in the financial terms.

Budget is a statement prepared by the management for a specific tenure in future, to accomplish the goal of management in that particular period of time. Budget is basically expressed in the financial terms.

Answer 7

Chapter 21, Problem 1Q

a.

To determine

Explain the term budget.

Answer 8

a.

Expert Solution

Explanation of Solution

Budget

Budget is a statement prepared by the management for a specific tenure, to accomplish the goal of management. Budget is basically expressed in the financial terms.

Budget is a statement prepared by the management for a specific tenure in future, to accomplish the goal of management in that particular period of time. Budget is basically expressed in the financial terms.

Answer 9

a.

Expert Solution

Answer 10

a.

Expert Solution

Answer 11

Expert Solution

Answer 12

b.

To determine

Explain the contribution of budget to a good management.

b.

Expert Solution

Explanation of Solution

Budget plays a very vital role in the formulation of plan for the management, as it helps in primary communication upon the agreed objectives of the organization. Budget is used as a primary base for the performance evaluation, after it has been adopted by the management.

Answer 13

b.

To determine

Explain the contribution of budget to a good management.

Answer 14

b.

Expert Solution

Explanation of Solution

Budget plays a very vital role in the formulation of plan for the management, as it helps in primary communication upon the agreed objectives of the organization. Budget is used as a primary base for the performance evaluation, after it has been adopted by the management.