Ben makes only credit sales. 75% is received within 30days and the remaining 25% within 60days. If Ben makes £20,000 sale in March and a £25,000 sale in April, how much will he receive in May? a.£25,000 b.£18,750 c. £23,750 d.£31,250
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.
Step by step
Solved in 2 steps with 1 images
