QUESTION 1
Willow's annual budget is in disarray because of unexpected variances, some of which are not in her control. She was not expecting a 10% rent increase, which increased her expenditures, nor a 15% increase in contributions to her employer's health insurance plan, which reduced her income. In addition, her savings lost future value when her bank reduced its interest rate by 2.5%. At the same time, she spent more on clothing, entertainment, and gifts than she realized-more than she had budgeted for. Willow is discouraged. What should she do? (FOUR WELL FORMED PARAGRAPHS)
QUESTION 2
a. What financial tools described in this chapter can help you make better financial decisions?
b. What are the components of a comprehensive budget and what is the purpose of each component?
c. How are specialized budgets prepared? What is the relationship of specialized budgets to the comprehensive budget?
( Three well formed paragraph for each question and please APA Citation).
QUESTION 3
When is a cash flow budget a useful alternative to a comprehensive budget?
(Four well formed paragraph for each question and please APA Citation). PLEASE NO BLUNT ANSWER