LUGA_SCM 2nd week - the master budget exercises - Part IV \u2013 The Master Budget Exercises Discussion Questions 1 Define the term budget How are

LUGA_SCM 2nd week - the master budget exercises - Part...

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Part IV – The Master Budget Exercises Discussion Questions: 1.Define the term budget. How are budgets used in planning? 2.Define control. How are budgets used to control? 3.What is a master budget? An operating budget? A financial budget? , 4.All budgets depend on the sales budget. Is this true? Explain. 5.Why is it important for a manager to receive frequent feedback on his or her performance?

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