Question
You are beginning your own business and you developed a budget based on modest sales and expense assumptions. The actual results are very close
You are beginning your own business and you developed a budget based on modest sales and expense assumptions. The actual results are very close to your budget at the end of the first and second months. During the third month, both cash collected and paid differ significantly from the budget. What could be some possible causes and what should you do?
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Answer I Difference arises in the actual sales expense and budgeted sales expense is known as budget ...Get Instant Access to Expert-Tailored Solutions
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Management Accounting
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
6th Canadian edition
013257084X, 1846589207, 978-0132570848
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