Describe the difference between a static and a flexible budge
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1. Describe the difference between a static and a flexible budget
2. Outline how often businesses must report GST
3. Describe a method that can be used to evaluate a budget or financial plan.
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- a. Explain your understanding about the budget cycle b. Please illustrate an example of budget cycle's application in a business illustration of a whole series in order of the budget cycle!Each of the following statements includes a pair of words within parenthesis. Indicate which of the words should be chosen to make the statement true. The first statement is done as an example. A ( loan application / budget ) is a detailed financial plan that quantifies future expectations and actions relative to acquiring and using resources. Budgets ( should / should not ) be used to provide managers with "preapproval" for execution of spending plans. The (master budget / sales budget ) is a comprehensive document specifying sales targets, production activities, and financing actions. "Responsibility accounting" is a concept under which managers are held accountable for transactions and events ( beyond / under ) their direct influence and control. Some entities will follow a top-down( mandated / participative ) approach to budgeting. A deliberate effort to create "breathing room" within a budget is known as ("padding the budget" / "aerating" ). With ( incremental budgeting /…Q3:-what is the difference between budgets and budgeting, Reinforce your answer with examples , dates, and equations:-
- Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgetingDiscuss or explain thoroughly. 1. Explain the Budget Process.5. When developing a budget, an EXTERNAL factor to consider in the planning process is - Group of answer choices - the activities of competitors - development of new product - implementation of employee's retirement plan
- a.List and briefly discuss 1 advantage and 1 disadvantage of this approach to budget preparation using the context of the example given.how can I apply MIS ( management information system ) successfully in this topic: A PERSONAL BUDGETING/EXPENDITURE SYSTEM (TRACKING OF EXPENSES AND INCOME, REPORTING DEFICITS)Briefly (5-10) lines) give a written amswer to the following question: What function does an annual budget serve as a part of a company's performance measurement system and how can a budget be used to encourage goal congruence (or 'alignment')?
