You are in charge of preparing a comprehensive budget for your firm. Indicate how financial ratios can help determine an acceptable comprehensive budget.

Each of the following statements includes a pair of words within parenthesis. Indicate which of the words should be chosen to make the statement true. The first statement is done as an example. A ( loan application / budget ) is a detailed financial plan that quantifies future expectations and actions relative to acquiring and using resources. Budgets ( should / should not ) be used to provide managers with "preapproval" for execution of spending plans. The (master budget / sales budget ) is a comprehensive document specifying sales targets, production activities, and financing actions. "Responsibility accounting" is a concept under which managers are held accountable for transactions and events ( beyond / under ) their direct influence and control. Some entities will follow a top-down( mandated / participative ) approach to budgeting. A deliberate effort to create "breathing room" within a budget is known as ("padding the budget" / "aerating" ). With ( incremental budgeting /…

Select each of the terms with the best description of its purpose. 1. Helps determine financing needs. Definitions 2. The usual starting point in the master budget process. 3. A report that shows predicted revenues and expenses for a budgeting period. 4. A budgetary cushion used to meet performance targets. 5. A comprehensive plan that consists of several budgets that are linked. 6. Employees affected by a budget help in preparing it. Terms

Which is the mostly likely purpose of budgeting? a. Assess the non-financial performance of an organization b. Planning and control of an organization's income and expenditure C.Preparation of a five-year business plan d. Company valuation

CE Company reported the following information for 2022: Budgeted sales $1225000 . All sales are on credit. • Accounts receivable are collected 50% in the month of sale and 50% in the following month. What are budgeted cash receipts for November? $1310000 October November December $560000 $1120000 $1330000 $1120000 $1500000

What is the objective of preparing an operating budget and its significance to the success of the business? (Essay form answer)

Which of the following is not considered a benefit of the budgeting​ process?   a. Gives managers guidance when evaluating the performance of business operations. b. Determines the exact amount of revenues and expenses for the upcoming fiscal period. c. Helps managers achieve short-term and medium-term goals. d. Helps managers set long-term strategic plans.

Identify and explain the different purposes of budgets for a company.

A budget is a financial plan for future activities that help management decide which activities it will undertake and how the company's resources will be used.   Meaning of budget? Meaning and the sample budget for the following budgets: sales budget, production budget, material budget, cash budget and flexible budget by providing sample budgets for the same?

According to institute of Cost and Management Accountants (ICMA) a budget is a plan, quantified in monitory terms showing the income to be the generated, the costs to be incurred and the resources to be utilized for the defined period of time. Required: Explain the following terms connected with a budget (i) The budget period (ii)The budget Manual (iii)The budget committee