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8-1 What is a budget? What is budgetary control? 8-2 Discuss some of the major benefits to be gained from budgeting. 8-4 What is a

8-1 What is a budget? What is budgetary control?

8-2 Discuss some of the major benefits to be gained from budgeting.

8-4 What is a master budget? Briefly describe its contents.

8-5 Why is the sales forecast the starting point in budgeting?

8-8 What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution must be exercised in their use?

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