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