N2DTL5-3
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Financial viability is important for an organization because it will lead to:
building up a cash reserve
job opportunities
steady growth
management of costs
Poor financial management within an organization might lead to:
promoting the business
building up a cash reserve
monitoring of accounts
underestimating costs
Creditors are people who:
owe money
sell goods
are owed money
buy goods
Turnover is revenue from:
sales after profit is calculated
sale of shares
sale of assets
sales before profit is calculated
Audits are checks on the:
budgets and plans of an organisation
management of an organisation
finances of an organisation
financial viability of an organisation
A cash flow budget is:
a plan for the future
a way of measuring performance
a comparison of figures
an estimate based on the past
Expenses are:
capital costs
projected activity
income from the sale of products
the costs incurred to produce a product
The marketing budget is part of the:
production budget
operational budget
capital budget
cash flow budget
It is important to monitor a budget to:
look for variances
check achievement of targets
reconcile cash flow
ensure good communication
If a budget is revised, it is important to:
eliminate variances
set motivational targets
communicate the changes
allocate more money
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