Question 1
The best resource for determining what business might be like in the following year is
◦ industry financial reports.
◦ the local newspaper.
◦ historical data.
◦ external data.
Question 2
The first step in the budgeting process is to
◦ take corrective action, if necessary.
◦ evaluate results.
◦ allocate resources.
◦ gather figures.