📝 One-liners · 66 cards
BUDGETS AND BUDGETARY CONTROL
What is a budget in the context of budgetary control?
A budget is a formal financial plan expressed in quantitative terms, covering a specific future period, used to coordinate and control organizational activities.
What is an incremental budget?
Budget based on previous period figures with adjustments added.
What is budgetary control?
Budgetary control is a system of management where actual performance is continuously compared with budgeted figures, and corrective action is taken for any deviations.
What is the purpose of a selling and distribution cost budget?
To estimate costs of promoting and delivering goods to customers.
🔒
Unlock 66 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for BUDGETS AND BUDGETARY CONTROL.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days