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Discuss how products can be defined in relation to the different marketplaces, the elements of a product and why each of these elements may need to be modified. Illustrate your answer with examples.
Budget Preparation
The process of creating a plan that estimates the revenue and expenses for a future period.
Capital Expenditures Budget
A budget summarizing plans for acquiring fixed assets.
Operating Budgets
Detailed plans that outline expected revenue and expenses over a certain period, focusing on the day-to-day operations of an organization.
Continuous Budgeting
A method of budgeting that provides for maintaining a 12-month projection into the future.
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