what is budget function
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what is budget function
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Answer:
Functional budgets are associated with the functions of an organization. Examples of functional budgets include sales budgets, production budgets, labor budgets, cost budgets, overhead budgets, capital expenditure budgets, and cash budgets. Budgeting, however, is not a substitute for good management. Instead, the budget is an important tool of managerial control. Managers make decisions in budget preparation that serve as a plan of action. The period covered by a budget varies according to the nature of the specific activity involved.
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