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True and false. The essentials of budgeting are (1) establishment if specific goals for...

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Accounting

True and false.

  1. The essentials of budgeting are (1) establishment if specific goals for future operations and (2) the periodic comparison of actual results with these goals..
  2. The budget procedures used aby a large manufacturer of automobiles would probably differ from those used by a small manufacturer of paper products
  3. A budget procedure that provides for the maintenance at all times of a twelve-month projection into the future is called continuous budgeting.
  4. A budget procedure that provides for the maintenance at all times of a twelve-month projection into the future is called master budgeting .
  5. The budget procedure that requires all levels of management to start from zero is estimating sales, production, and other operating data is called zero-base budgeting.
  6. The master budget of a small manufacturer would normally include all necessary component budgets except the capital expenditures budget.

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