Reference no: EM132526994
Question 1: What are three purposes of budgeting?
Question 2: What are the purposes of a master, planned operating, and financial budget?
Question 3: How does the management by exception concept relate to budgeting? What are five basic principles which, if followed, should improve the probability of preparing a meaningful budget? Why is each important?
Question 4: What is the difference between an imposed budget and a participatory budget?
Question 5: Define and explain a budget variance.
Question 6: What are the two major budgets in the master budget? Which should be prepared first? Why?
Question 7: Distinguish between a master budget and a responsibility budget.
Question 8: Management must make certain assumptions about the business environment when preparing a budget. What areas should be considered?
Question 9: Why is budgeted performance better than past performance as a basis for judging actual results?
Question 10: Describe te concepts of just-in-time inventory systems and zero-base budgeting.
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What are three purposes of budgeting
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How ferguson and son company budgetary control system
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