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Budgeting has been known to be a planning and control tool to help management in their planning, decision-making and implementation and control of business activities to ensure goal congruence.
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Question 1: Describe the characteristics of the industry and company (and or product life cycle) that would be the most suitable for each of the budgeting approaches; justify your answers.
i. incremental budgeting ii. zero based budgeting iii. rolling budgeting
On January 1, 2015, Stephen, Inc. sold equipment to Noli, At December 31,2015, how much should Stephen report as deferred gain from the sale of the equipment?
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