Managerial accounting Study Set 9
Quiz 9: Budgeting
A continuous or perpetual budget is one that covers a 12-month period,but is constantly adding a new month onto the end of the 12-month period as the current month is completed.
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Budgets are used for planning rather than for control of operations.
Control involves developing objectives and preparing the various budgets to achieve those objectives.
One of the distinct advantages of a budget is that it can help to uncover potential bottlenecks before they occur.
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