A Business Develops a Budget for Many Reasons Beyond Wanting

question 101

Essay

A business develops a budget for many reasons beyond wanting to know what future profits will be.Comment on the role of a firm's strategic goals in both the master budget and the capital budget.

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Definitions:

Business Cycles

Fluctuations in economic activity over time, characterized by periods of expansion (growth) and contraction (recession) in the economy.

CPFR Process

Collaborative Planning, Forecasting, and Replenishment, a process where supply chain partners share forecasts and plans to enhance supply chain efficiency.

Outbound-To-Customer

Logistic processes and activities involved in moving goods from the final storage hub to the end customer.