Budgetary Question:

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Do you know what is Budget?

Budgetary Interview Question
Budgetary Interview Question

Answer:

A budget is a financial document or an action plan which is prepared and used to project future income and expenses. It outlines an organisation’s financial and operational goals. It can also include non- monetary information with the monetary information. They need to be made and approved in advance of the year in which they are to be used or implemented.

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Explain what role does budgetary control play in cost control? What are the requirements for its successful implementation?What are Budget characteristics?