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