BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To prepare a budget, a business must be able to identify and predict the amount of each source of income and each type of expense.
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True
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False
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Explanation:
Detailed explanation-1: -Master budget A master budget is an aggregation of lower-level budgets created by the different functional areas in an organization. It uses inputs from financial statements, the cash forecast, and the financial plan. Management teams use master budgets to plan the activities they need to achieve their business goals.
Detailed explanation-2: -The federal budget comprises three primary components: revenues, discretionary spending, and direct spending.
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