BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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find ways to increase revenue
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adjust the budget
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seek ways to cut expenses
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double-check their calculations
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Detailed explanation-1: -Managers are usually held accountable if their part of the company faces financial problems. This is an estimate of the actual money a business received and paid out for a specific period. Identifies the companies from which credit purchase were made.
Detailed explanation-2: -What should you do if you overspend in one category of your budget? Adjust your budget by removing money from other spending categories. Detailed categories on your budget will help you make better spending decisions.
Detailed explanation-3: -The process is usually managed by a chief financial officer (CFO) and the finance department. However, the definition can be expanded to include all areas of organizational planning including: financial planning and analysis, supply chain planning, sales planning, workforce planning and marketing planning.
Detailed explanation-4: -A net loss occurs when a company’s expenses are higher than its total revenue. This can be a sign of problems that need to be addressed. It can, however, also happen because a company has a (relatively) short-term need for more income than it earns.