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Q: is the function of a budget?

A: Budget is nothing but planned allocation of revenue and expenses so that it help organization the…

Q: Explain the different purposes that a budget can have

A: Introduction:- Budgeting used to estimation of income and expenditure over a specified period of…

Q: What is the difference between a static budget and a flexible budget?

A: The question has covered the concept of Static Budget and Flexible Budget. That is discussed below,…

Q: What are some limitations of the budgeting process?

A: Budgeting is an important exercise that is performed in most of the organizations. Budgeting has lot…

Q: What is a self-imposed budget?

A: Budget:   It is a statement of estimated revenue and expenditure for a specific period.

Q: Which of the following is not the example of functional budget? Production Budget Cost of goods sold…

A: Functional Budget: Function Budget represent the function of a Business. For example to represent…

Q: budget is a

A: Introduction : A budget can be understood as an accounting statement, prepared by the managers of a…

Q: What are the two components of the static budget variance? How are they calculated?

A: Definition:   Static budget variance: The static budget variance is the difference between the…

Q: What is a flexible budget? Explain? Give example?

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

Q: How do flexible budgets differ from static budgets?

A: Flexible Budgets: Flexible budgets are prepared for various levels of activities or outputs. This…

Q: What are the three major objectives of budgeting? Under what circumstances would a static budget…

A: Budgeting is a planning measure by which Business Entity make plan for the expected revenues and…

Q: What is the difference between an imposed budget and a participatory budget? Define and explain a…

A: Introduction A budget is a financial statement that the management develops to evaluate the…

Q: What are the benefits of a master budget?

A: Master Budget:The master budget is the core budget that describes the full process of budget. This…

Q: How are budget variances calculated and used as performance measures? Provide numerical example?

A: budget is the predefined calculations that provide the plan of using the resources and generating…

Q: budget flexed? Give an Example.

A: Flexing of budget is a method used to prepare estimates of the future level of revenues and…

Q: What is a flexible budget? Explain how a flexible budgetincreases the usefulness of budgeting as a…

A: A flexible budget is a budget that can be easily adjusted to reflect the changes in the volume of…

Q: What is a static budget performance report?

A: Static Budget Performance report: The Static Budget Performance report reports the variances.…

Q: what is the difference between bottom up and beyond budgetin

A: Budgeting is the process of determining the expected costs and revenues for a particular period by…

Q: uses and advantages of budget?

A: The budget represents the estimation of the expenses to be incurred and revenue to be earned by the…

Q: Define the term flexible budget.

A: Flexible Budgets:   Flexible budgets are prepared for various levels of activities or outputs. This…

Q: What is a static budget? Explain? Give example?

A:

Q: What are budgets used for?

A: Management accounting is one of the branches of accounting. Unlike financial accounting, the…

Q: Compare and contrast a flexible budget and a static budget

A: Budgeting is one of the essential tool that helps to plan an organisation to plan its costs…

Q: What are the benefits of budgeting?

A: Budget means future forecast of the business. Budgeting is a process of making budgets. For example,…

Q: Where are imposed budgets effective?

A: Imposed Budgets: These are top-down budgets which are made by top management and then imposed on…

Q: What is a budget?

A:

Q: Define static budget.

A: Budget is a estimation of revenue and expenses for a future period of time

Q: What is a fixed budget

A: Budget: A budget is a forecast of revenue and expenses for a specific future period of time that is…

Q: What type of procedure is a Budget vs. Actual comparison?

A: Budget is a statement of cost and revenue which are estimated at the start of the period  Actual is…

Q: What are the components of budgeting model and why is it important?

A: Budgeting The purpose of preparing the budget to evaluate the performance of the business for a…

Q: How are standards and variances used in budgeting and budget analysis?

A: Variance refers to the difference between the standard values to the actual values for both revenue…

Q: What is captial budgeting? Why a separate capital budget is needed?

A: The term capital budgeting comprises of two words, "Capital" means the funds needs for the…

Q: Define rolling budget. Give an example.

A:

Q: Explain the relationship between a simple budget and a flexible budget.

A: Budgeting Budgeting is an important tool which are used for the management of the entity to evaluate…

Q: what are the differences between top down and beyond budgeting?

A: Budgeting is the process of estimating the income and expenditure to control the actual income and…

Q: What is the difference among a master budget, pro forma budgets, and a flexible budget?

A: A budget is a financial plan that is prepared by all organizations for a particular period. The…

Q: What is true of budgets?

A: Budget:  Budget is an estimation of revenue and expenses over a specific period of time. It's a…

Q: Which statement about budgets is correct?

A: Budgets is a financial plan for the future . It's the estimate of Incomes and expenses for the…

Q: What is the key difference between a static budget and a flexible budget?

A:

Q: What is a flexible budget performance report?

A:

Q: What is a cash budget?

A: Cash & Cash Equivalents Cash and cash equivalents refers to the liquid investments that are…

Q: Define the term production budget.

A: The creation financial plan figures the quantity of units of items that should be fabricated, and is…