q: Budgeting: The various activities within a company should be coordinated by the preparation of plans and actions for future periods. These detailed plans are usually referred to as budgets. Discuss the multiple functions of budgets.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
q: Budgeting: The various activities within a company should be coordinated by
the preparation of plans and actions for future periods. These detailed plans are
usually referred to as budgets. Discuss the multiple functions of budgets.
Q2: Agency theory: Briefly discuss the agency theory and highlight real life
challenges and issues
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