A lsquoa budget is a forecast of what is expected to happen


Question: You have overheard the following statements:

(a) ‘A budget is a forecast of what is expected to happen in a business during the next year'.

(b) ‘Budgets must be prepared with a column for each month so that you can see the whole year at a glance, month by month'.

(c) ‘Budgets are OK but they stifle all initiative. No manager worth employing would work for a business which seeks to control through budgets'.

(d) ‘Any sensible person would start with the sales budget and build up the other budgets from there'.

Required: Critically discuss these statements, explaining any technical terms.

Request for Solution File

Ask an Expert for Answer!!
Finance Basics: A lsquoa budget is a forecast of what is expected to happen
Reference No:- TGS02232858

Expected delivery within 24 Hours