Why is it necessary to regularly check actual income and expenditure against budgets at regular intervals? Explain
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Question:
- Why is it necessary to regularly check actual income and expenditure against budgets at regular intervals?
- Explain the difference between fixed and flexible budgeting and explain how budgets are used to allocate resources for business operations.
- Explain the purpose of each of the following: a cash flow budget, a capital expenditure budget, a sales budget and explain, in general terms, what procedures should be followed when collecting data to inform budgets.
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