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Unit theoretical questions to understand: 1. What is a budget? What is its purpose? 2. What are the differences between a budget and

Unit theoretical questions to understand:

1. What is a budget? What is its purpose?

2. What are the differences between a budget and a business plan?

3. What is a Budget Income Statement? How is it different than the operating income statement?

4. What is an inventory budget - why is important?

5. What is a cash budget - why is it important?

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What is a budget What is its purpose A budget is a financial plan that outlines expected income and expenses over a specific period typically a fiscal year Its purpose is to provide a roadmap for allo... blur-text-image

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