When Preparing Its Sales Forecast, an Organisation Can Use the 'Bottom-Up

question 2

Multiple Choice

When preparing its sales forecast, an organisation can use the 'bottom-up' approach. What is one of the features of this approach?

• A)Operating personnel are motivated to prepare realistic budgets and accept them as benchmarks in performance evaluation.
• B)Multiple levels of managers and salespersons are involved in the forecasting process.
• C)It often involves negotiations between departments.
• D)All of the above

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Definitions:

Preferred Dividends

Dividends that are paid to preferred shareholders before any dividends are paid to common shareholders.

GAAP

GAAP, or Generally Accepted Accounting Principles, are a set of accounting standards and procedures used in the United States to govern financial reporting and ensure consistency across industries.

IFRS

The International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that serve as a global framework for how public companies prepare and disclose financial statements.

Restated

The revision and publication of previously issued financial statements to correct errors or to adjust for changes in accounting policies.