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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.


Definitions:

Substrate

The surface or material on or in which an organism lives, grows, or reacts, or a substance acted upon by an enzyme.

Reactant

Molecule that enters a reaction and is changed by participating in it.

Cofactor

A non-protein chemical compound or metallic ion that is required for a protein's biological activity to happen.

Cyclic Metabolic Pathway

A series of biochemical reactions that occur in a sequence, where the end product of one reaction becomes the substrate for the next, often regenerating a key initial reactant.

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