The First Step in Setting Up a Budget in Sage

question 13

Multiple Choice

The first step in setting up a budget in Sage 50 Accounting is -

• A) changing the general ledger settings for budgeting
• B) choosing the equity accounts you want included in the budget
• C) entering budget amounts for the ledger accounts
• D) choosing set up budget from the settings icon

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Definitions:

Switching Costs

The costs that a consumer or company incurs as a result of changing from one supplier, product, or system to another.

Entry Barriers

Obstacles that make it difficult to enter a particular market or industry, which may include high startup costs, strict regulations, or strong competition.

Loyalty Programs

Marketing strategies designed to encourage customers to continue to shop at or use the services of businesses associated with each program.

Cost Leader

A strategy where a company becomes the most competitive in the market by having the lowest operating costs.