Budget Resources

What is a budget?

• Tool that asset owners and managers to plan expenses

• Document that express monitory terms

• Document that help managers to understand business performance

• All of above are correct

Budgets are short term plans of up to one year.

• True

• False

Basis of budget include..

• Budgetary goal

• Budgetary plan

• Budgetary control

• Budgetary process

Select cost centres of following

• Conference Centre

• Finance Department

• Dining room

• Spa

• Marketing division

Select profit centres of following

• Banquet halls

• Restaurant

• Maintenance Department

• HR Department

• Game kiosk

Cash budget means..

• Amount of cash collected in a day from selling goods and services

• Expected cash sales and expenses for a period

• Document with future cash requirements of the business

• Document shows cash inflows and cash outflows of the business

The basic contents of a budget are

• Name and title of the budget

• Period to which the budget applies

• Details of projected sales or revenue

• Details of actual sales or revenue

• Details of variance and budget notes