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Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
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Question
Chapter 22, Problem 1DQ
To determine
Describe the three major objectives of budgeting.
Expert Solution & Answer
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Explanation of Solution
Budgeting:
Budgeting is a process to prepare the financial statement by the manager to estimate the organization’s future actions. It also helps to satisfy everyday activities.
The three major objectives of budgeting are described below:
- • To set the goals for the future actions.
- • To implement the strategies to accomplish the preset goals.
- • To compare the actual results with the budgeted results periodically.
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Chapter 22 Solutions
Financial And Managerial Accounting
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