The country store is a retail outlet for a variety of hardware and housewares and the...

   

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The country store is a retail outlet for a variety of hardware and housewares and the owner of the outlet is planning to expand his business and extra capital will be needed. He asked the Page 11 of 18 management accounting team to to prepare a master budget to analyse the business financial plan. 3.1 Describe the sources of information to prepare the budget. (2 marks) 3.2 What is the main advantage and drawback when preparing the master budget? The country store is a retail outlet for a variety of hardware and housewares and the owner of the outlet is planning to expand his business and extra capital will be needed. He asked the Page 11 of 18 management accounting team to to prepare a master budget to analyse the business financial plan. 3.1 Describe the sources of information to prepare the budget. (2 marks) 3.2 What is the main advantage and drawback when preparing the master budget?

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31 Sources of preparing master budget The policy of a business for a defined period is represented b... View the full answer