What is a budget? How is it used by a business ...

[DelorasTo]

What is a budget? How is it used by a business firm?

Question 2

Maslow believed each level of need must be completely satisfied before an individual can advance to the next level.
 
 Indicate whether the statement is true or false

[mcinincha279]

Answer to Question 1

A budget is a financial statement that projects income, expenditures, or both over a specified future time. Once executives and employees develop a firm's goals and objectives, the next step is to construct a budget that projects the costs the firm will incur and the sales revenues it will receive during a specific time period. Budgeting for a business often begins with the construction of departmental budgets for sales and various types of expenses. Then individual budgets can be combined into a company-wide cash budget. For major expenditures and long-term financing needs, a firm can also construct a capital budget.

Answer to Question 2

False

[DelorasTo]

Correct answers!

[mcinincha279]

Great! Please up vote