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    Principal Benchmarks

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    Consider the three principal benchmarks referenced on p. 105 (Ch. 13) of Accounting Fundamentals; explain which benchmarking data you anticipate being the best approach to evaluate your proposed budget and why.

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    There are three principal benchmarks. The first is the firm's history. We always want to review the ratios for the organization this year, compared to what they were in the several previous years. This enables
    us to discover favorable or unfavorable trends that are developing gradually over time, as well as pointing up any numbers that have changed sharply in the space of time of just 1 year.

    The second type of benchmark is to ...

    Solution Summary

    This solution outlines the three principle benchmarking data and explains which of them is the best approach to evaluate a proposed budget.