An enterprise's revenues for the month are $1,300,000. while its expenditures are $600,000. Therefore, its ____________ equals $_____________ in the budget. Group of answer choices Profit: $1,300,000 Expenses: $700,000 Profit: $700,000 Surplus: $700,000
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.
An enterprise's revenues for the month are $1,300,000. while its expenditures are $600,000. Therefore, its ____________ equals $_____________ in the budget.
Group of answer choices
Profit: $1,300,000
Expenses: $700,000
Profit: $700,000
Surplus: $700,000
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