10. Cameron is in grade 12 and works part-time in a bike shop. His monthly budget is shown. Expenses ($) transportation clothes Income ($) March 1-15 458.68 109.00 March 16-30 494.02 100.00 entertainment 125.00 college savings car fund 200.00 175.00 motorcycle lessons 250.00 What should Cameron do to his budget, if his income remains the same for the next month? a. Increase his clothing expense by at least $6. b. Reduce his clothing expense by $2. c. Reduce his clothing expense by at least $7. d. His budget is already balanced.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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