Essay Questions 122. Describe at least five benefits of budgeting. 123. What are rolling budgets? Why are rolling budgets prepared? 124. Briefly describe the process by...

Essay Questions

122. Describe at least five benefits of budgeting.

123. What are rolling budgets? Why are rolling budgets prepared?

124. Briefly describe the process by which budgets are developed and administered.

125. Briefly describe a master budget and the sequence in which the individual budgets within the master budget are prepared.

126. Why is the sales budget usually prepared first?

127. What is activity-based budgeting?