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Why is important for organization to prepare and use budget

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Managers continually plan and control operations within organizations. Planning involves establishing goals and communicating these goals to employees of the organization. The control function assesses whether goals were achieved and is often used to evaluate the performance of employees, departments, and the organization as a whole.

Question Problem 1: Why is it important for an organization to prepare and use a budget (or financial plan)?

Reference no: EM132462239

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