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Why is it important for a business to have a budget

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Reference no: EM132472090

Question 1. Why is it important for a business to have a budget?

Question 2. Budgets are developed months before the end of the current year and are the best guess estimates of future performance. What do you think might be some pitfalls of budgeting, how can they be avoided?

Question 3. Incremental analysis is used to help companies make decisions involving g a choice among alternative courses of action. We use incremental analysis in our own decision making as well. Provide a hypothetical example of how you might use incremental analysis in making a decision.

Question 4. Making decisions often involves financial and non financial factors. Provide a hypothetical example that people experience in life in which you would consider both financial and non financial factors. What factors would be considered?

Reference no: EM132472090

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