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Imposed Budgets
In this approach to budgeting, top management prepares a budget with little or no help from operating personnel, which is then obligatory upon the employees who have to work to the budgeted figures.
Imposed budgets are effective in the following conditions:
What is a pro forma financial statement and how does it relate to the master budget?
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Explain Operating budgets These budgets relate to the dissimilar activities or operation of a firm the number of such budgets depends upon the size and nature of business. The
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