1.

Explain any four features of a budget.

Answer»

Features of budget are as follows : 

• A budget is a statement of expected results expressed in quantitative terms.

• It provides a standard by which actual observation can be measured and by which variations can be checked. 

• It is a single use plan since it is prepared for a particular period of time. 

• A budget forces an enterprise to make in advance a numerical compilation of expected cash flows, expenses and revenues, capital outlays or machine hour utilization.



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