Question

list any four characteristic of a good budget

Answer 1

A budget is a financial document or an action plan which is prepared and used to project future income and expenses.following are the characteristics of a good budget:-
1) Analysis of cost and revenues
2) prepared on the basis of established standards of performance
3) practical to implement
4) it's expressed in quantitative and monetary terms.

Answer 2

list any four characteristic of a good budget?

The four characteristics of a good budget are as follows :

Motivational : A budget should contain motivating elements for all the people in an enterprise to achieve their goals. The budget should be such that the entrepreneur is motivated to achieve the goal of his enterprise.

Management support : A good budget should have management support at all levels of the organisation. Budgeting is not meaningful without the support of the employees of an enterprise.

Flexibility : A Budget Always a good budget should always be flexible. Flexible budgeting allows the entrepreneur to proceed even with plans that are strategically important to the enterprise. Allows you to work on flexible budget plans.

Correct representation : To make a good budget, there should be proper representation. A wrong budget can give managers a chance to hide their shortcomings, but a good budget undeniably paints the right picture.

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One of the most important tools in cost planning is

A. Direct cost

B. Cost sheet

C. Budget

D. Marginal costing