Why a company needs a good budgeting plan

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Question -

1) Describe the benefits to an organization of preparing an operating budget.

2) Bob and Dale have just purchased a small honey manufacturing company that was having financial difficulties. After a brief operating period, they decided that the company's main problem was the lack of any financial planning. The company made a good product and the market potential was great. Why a company needs a good budgeting plan. Specifically address the need for a master budget.

Reference no: EM133163288

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