What is a budget?

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: Explain the benefits of budgeting.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: a standard

A: A budget usually refers to a department's or a company's projected revenue, costs, or expenses. A…

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: How are budgets used as monitoring and control tools?

A: Budgets are quantitative statements that contain the details of the planned revenues, expenditures,…

Q: What is continuous budgeting?

A: Continuous budgeting refers to when a budget of a month ends, immediately the succeeding month…

Q: How is budget achieved in transportation.

A: Preparation and achieving the target of the prescribed budget is differentiated for the different…

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: What is a budgeting cycle? Explain?

A:

Q: A budget w irrespective called?

A: Option (B) fixed budget is the correct answer.

Q: What are the benefits of Kaizen budgeting?

A:

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: A budget is a way of

A: A financial budget is prediction of expenses and income for a future period of time. Business…

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: How to do Cash Budget?

A: Cash Budget is type of budget that helps in estimating the Cash flows of the business over a…

Q: How does a budget benefit management in its control function?

A:

Q: What are the three main types of budgets?

A: The three main types of budgets: 1. Incremental budgeting:With incremental budgeting, the current…

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 static budget performance report?

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

Q: what is budgeting is accounting? Explain its significance and applications with examples ?

A: The process of estimating future income and losses is called budgeting. In other words, it is the…

Q: How would I set up a master budget?

A: Master Budget is a combination of various levels functional budgets. It is a central planning…

Q: what are total budgeted costs

A: Budgets are the estimates or forecasts to be made for future period. Budgeted costs means forecasted…

Q: how would management use a Master budget?

A: A master budget is a central planning mechanism used by a management committee to direct a…

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: What is budgetary control?

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: Define Control. How are budgets used to control?

A: Control means cut down or limiting the expenses of the business. Cost control is very important in a…

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: Why are human factors critical in budgeting?

A: budgeting is such a process under which a detail plan of spending of the businesses is done in order…

Q: What is cash budgets

A: A budget is a financial plan used by organizations for a particular period of time, generally a…

Q: How does activity-based budgeting explain the logic of budgeting?

A: Activity based budgeting: It is a budgeting system where budgets are prepared based on the expected…

Q: What is a budget? What is budgetary control?

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

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: How is a flexible budget used?

A:

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: 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 are the different benefits of rolling budget?

A:

Q: What is the relationship between the master budget and responsibility accounting?

A: Definition of budget: According to CIMA Budget means " Quantitative expression of a plan for 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…