Explain how probabilities are used in budgeting

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1. Explain how probabilities are used in budgeting and provide an example of how a sales budget could be developed using probabilities.

2. What may be some of the reasons a company experiences actual sales that exceed budget sales. What might this variance reveal about the company’s budgeting processes?

3. When might a company consider revising a budget?

Reference no: EM132147463

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