ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Trading is too predictable.
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The law only requires them for large firms.
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SME’s don’t record variances.
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Budgeting can be time consuming.
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Detailed explanation-1: -Experts say that companies may forgo a formal budget for fears that a budget would be unnecessary or fail to anticipate fluctuations in business earnings. Rhett Molitor is the co-founder of Basis 365 Accounting, a cloud-based accounting service.
Detailed explanation-2: -A budget can help you plan your business activities and can act as a yardstick for setting up financial goals. It can help you tackle both short-term obstacles and long-term planning.
Detailed explanation-3: -You don’t make enough money. There are only so many ways you can reduce your expenses and cost cut. You’re contributing too much to your 401k. You didn’t financially prepare to take on dependents. You’re too emotionally drained by having debt. 28-Oct-2022
Detailed explanation-4: -8 Reasons Regular People Hate Budgets. We don’t want to be held accountable. We are living in denial. We don’t know how to get started. We think it will be too much work. We don’t make enough to need a budget. We tried budgeting before, and it didn’t work. We always get in a fight when we talk about money. More items •14-Oct-2020