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4. Why is the preparation of a sales forecast one of the earliest steps in preparing a master budget? 5. What are responsibility budgets? What responsibility centers would serve as the basis for preparing responsibility sales budgets in a large retail store, such as Sears or Nordstrom? 6. What is a flexible budget? Explain how a flexible budget increases the usefulness of budgeting as a means of evaluat- ing performance. onnroxi

4. Why is the preparation of a sales forecast one of the earliest steps in preparing a master budget? 5. What are responsibility budgets? What responsibility centers would serve as the basis for preparing responsibility sales budgets in a large retail store, such as Sears or Nordstrom? 6. What is a flexible budget? Explain how a flexible budget increases the usefulness of budgeting as a means of evaluat- ing performance. onnroxi

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 8MCQ: The first step in preparing the sales budget is to a. prepare a sales forecast. b. review the...
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Ch 23 DQ 4,5,6

4. Why is the preparation of a sales forecast one of the earliest steps in preparing a master budget? 5. What are responsibility budgets? What responsibility centers would serve as the basis for preparing responsibility sales budgets in a large retail store, such as Sears or Nordstrom? 6. What is a flexible budget? Explain how a flexible budget increases the usefulness of budgeting as a means of evaluat- ing performance. iole in Rloomberg Businessweek stated that approxi-
Transcribed Image Text:4. Why is the preparation of a sales forecast one of the earliest steps in preparing a master budget? 5. What are responsibility budgets? What responsibility centers would serve as the basis for preparing responsibility sales budgets in a large retail store, such as Sears or Nordstrom? 6. What is a flexible budget? Explain how a flexible budget increases the usefulness of budgeting as a means of evaluat- ing performance. iole in Rloomberg Businessweek stated that approxi-
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