#7 Please answer the following questions.

1. Provide a summary of the accounting concepts for companies in relation to Budgeting and Planning for Success and "Tools for Enterprise Performance Evaluations.

You can use this as a reference:

https://www.principlesofaccounting.com/chapter-21/

https://www.principlesofaccounting.com/chapter-22/

Also answer the following:

1. Why do companies budget? What are the benefits?

2. What can budgets be used for when evaluating company/department performance?