Budgets: Budgets are prepared to estimate the revenue, costs, receipts and payments for the business. There are several types of budgets prepared for a manufacturing concern. Few major types of budgets prepared by each manufacturing concert are as follows: Sales budget Cash Collection budget Production budget Raw material purchase budget Expenses Budgets Cash disbursement budget To indicate: Three roles of budgets in helping managers in monitoring and controlling.

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Answer 1

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Definition Definition Estimate of an organization's cash flow for a future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future.

Chapter 7, Problem 1DQ

To determine

Concept introduction:

Budgets: Budgets are prepared to estimate the revenue, costs, receipts and payments for the business. There are several types of budgets prepared for a manufacturing concern. Few major types of budgets prepared by each manufacturing concert are as follows:

Sales budget

Cash Collection budget

Production budget

Raw material purchase budget

Expenses Budgets

Cash disbursement budget

To indicate:

Three roles of budgets in helping managers in monitoring and controlling.

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Answer 2

Question

Definition Definition Estimate of an organization's cash flow for a future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future.

Chapter 7, Problem 1DQ

To determine

Concept introduction:

Budgets: Budgets are prepared to estimate the revenue, costs, receipts and payments for the business. There are several types of budgets prepared for a manufacturing concern. Few major types of budgets prepared by each manufacturing concert are as follows:

Sales budget

Cash Collection budget

Production budget

Raw material purchase budget

Expenses Budgets

Cash disbursement budget

To indicate:

Three roles of budgets in helping managers in monitoring and controlling.

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Answer 3

Question

Definition Definition Estimate of an organization's cash flow for a future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future.

Chapter 7, Problem 1DQ

To determine

Concept introduction:

Budgets: Budgets are prepared to estimate the revenue, costs, receipts and payments for the business. There are several types of budgets prepared for a manufacturing concern. Few major types of budgets prepared by each manufacturing concert are as follows:

Sales budget

Cash Collection budget

Production budget

Raw material purchase budget

Expenses Budgets

Cash disbursement budget

To indicate:

Three roles of budgets in helping managers in monitoring and controlling.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition Estimate of an organization's cash flow for a future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future.

Chapter 7, Problem 1DQ

To determine