Reference no: EM132542092

Many of you are responsible for either developing a budget or meeting a budget developed for your department. Use your experience or research the topic to answer any three of the following questions.

Question 1: Identify at least three benefits of budgeting in helping managers plan and control a business.

Question 2: How does a budget benefit management in its control function?

Question 3: What is the benefit of continuous budgeting?

Question 4: Why should each department participate in preparing its own budget?

Question 5: How does budgeting help management coordinate and plan business activities?

Question 6: Why is a sales budget so important to the budgeting process?

Question 7: Identify at least two potential negative outcomes of budgeting.