A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control. To discuss: Some of the major reasons of preparing the budgets.

Question

Want to see the full answer?

Answer 1

Question

Chapter 8, Problem 2Q

To determine

Concept Introduction:

A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control.

To discuss: Some of the major reasons of preparing the budgets.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Vincent Global has total assets of $875,600, a total asset turnover rate of 1.48, a debt-equity ratio of 0.55, and a return on equity of 17.5 percent. What is the firm’s net income?

Hello tutor please given General accounting question answer do fast and properly explain all answer

What is the firm's net income?

Answer 2

Question

Chapter 8, Problem 2Q

To determine

Concept Introduction:

A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control.

To discuss: Some of the major reasons of preparing the budgets.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 8, Problem 2Q

To determine

Concept Introduction:

A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control.

To discuss: Some of the major reasons of preparing the budgets.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 8, Problem 2Q

To determine

Concept Introduction:

A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control.

To discuss: Some of the major reasons of preparing the budgets.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 8, Problem 2Q

To determine

Concept Introduction:

A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control.

To discuss: Some of the major reasons of preparing the budgets.

Answer 6

Chapter 8, Problem 2Q

To determine

Concept Introduction:

A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control.

To discuss: Some of the major reasons of preparing the budgets.

Answer 7

Chapter 8, Problem 2Q

To determine

Concept Introduction:

A budget is an estimation or prediction of revenues and expenses for the future. In the other words, a budget is an estimation to determine the income that will be earned and expenses that will be incurred in an accounting period. It refers to the quantitative plan that includes income and expenses for a specific period in the future. A budget is used for planning as well as for control.

To discuss: Some of the major reasons of preparing the budgets.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 8 - Prob. 1Q Ch. 8 - Prob. 2Q Ch. 8 - Prob. 3Q Ch. 8 - 8-4 What is a master budget? Briefly describe its...Ch. 8 - 8—5 Why is the sales forecast the starting point...Ch. 8 - Prob. 6Q Ch. 8 - 8-7 Why is it a good idea to create a ‘"Budgeting...Ch. 8 - 8-8 What is a self-imposed budget? What are the...Ch. 8 - Prob. 9Q Ch. 8 - Prob. 10Q

Want to see the full answer?

Chapter 8 Solutions