Budgeting Question:
Which factors are taken into consideration while preparing it?
Answer:
Following factors are taken into consideration while forecasting for sales quantity:
★ Analysis of Past Trend
★ Reports by Salesmen
★ Market Research and Market Survey
★ General Economic Conditions
Following factors are taken into account while forecasting for selling price:
★ Cost price of the product
★ Expected amount of profits
★ Selling price charged by the competitors
★ Advertisement and sales promotion techniques used by the company.
★ Analysis of Past Trend
★ Reports by Salesmen
★ Market Research and Market Survey
★ General Economic Conditions
Following factors are taken into account while forecasting for selling price:
★ Cost price of the product
★ Expected amount of profits
★ Selling price charged by the competitors
★ Advertisement and sales promotion techniques used by the company.
| Previous Question | Next Question |
| Define sales budget? | What are the pre-requisites to implement Budgetary Control? |