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Budgeting and Decision Making
Quick questions on Budget preparation explained: H2 Principles of Accounting
5short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What are the chain of functional budgets?Show answer
Budgets are prepared in a logical sequence, each feeding the next:
What is the cash budget?Show answer
The cash budget lists expected receipts and payments month by month and rolls the closing balance into the next month's opening balance:
What is q1?Show answer
Sales are units, desired closing inventory , opening inventory . Find the production budget. [2 marks]
What is q2?Show answer
Opening cash is \10\,000\, payments \52\,000$. Find the closing balance and comment. [2 marks]
What is q3?Show answer
Explain why depreciation does not appear in a cash budget. [2 marks]
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