Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A well-prepared budget should be very similar to what actually happens in a business (Actual vs Budget) but there will be times when you have

A well-prepared budget should be very similar to what actually happens in a business (Actual vs Budget) but there will be times when you have a budget deviation or variance. a) List three common ways a hospitality business may have a variance between their budget and their actual. b) As a manager what would you do is you found a variance (Budget vs Actual)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

a Three common ways a hospitality business may have a variance between their budget and their actual performance are 1 Fluctuations in Demand Variatio... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship Successfully Launching New Ventures

Authors: Bruce R. Barringer, R. Duane Ireland

4th Edition

0132555522, 978-0132555524

More Books

Students also viewed these Accounting questions