For the fiscal year 20X7 budget, the Town of Purplesburg anticipates the following inflows in its General Fund budget Property taxes, licenses, and fees $7,000,000 Proceeds of borrowings 3,000,000 Transfers from discontinued funds 2,000,000 In the budgetary entry, what amount should the town record for Estimated Revenues? a. $7,000,000 b. $10,000,000 c. $12,000,000 d. $3,000,000
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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