Principal Components of a Master Budget Include

question 48

Multiple Choice

Principal components of a master budget include

• A) production budget
• B) sales budget
• C) capital expenditures budget
• D) all of these

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Definitions:

Fixed Costs

Costs that remain constant regardless of the amount of goods produced or sold, including expenses like rent, wages, and insurance fees.

Competitive Parity

A marketing strategy where a company allocates its budget to match its competitors' spending to avoid being outspent in key areas.

Pricing Strategy

The approach adopted by a business to set the price for its products or services, taking into account factors such as costs, market demand, and competition.

Westin

Westin Hotels & Resorts is a luxurious chain of hotels known for its wellness amenities, including fitness studios, nutritious foods, and comfortable bedding, aiming to enhance guests' well-being.