12. An investment requires working capital equal to 9% of the year’s sales revenue to be in place at the start of the relevant year. The sales revenue for the four year project is forecast as £100,000, £90,000, £110,000 and £120,000. What is the cashflow relating to working capital at time 2? A £900 inflow B £900 outflow C £1,800 outflow D £9,900 outflow

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.