What is participative budgeting? What are its potential benefits? What are its potential disadvantages?
What is participative budgeting? What are its potential benefits? What are its potential disadvantages?
Chapter1: Financial Statements And Business Decisions
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What is participative budgeting? What are its potential benefits? What are its potential disadvantages?
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Meaning
Meaning of Budgeting
Budgeting is a process of making a plan for a specified period most often for a year. It may also include planned sales volume and expenses, assets, liabilities and cash flows. Budgets are basically of three types.
- Balanced budget
- Surplus budget
- Deficit budget
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