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What are the best ways to utilize a budget?

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THE BEST WAYS TO USE A BUDGET
1. Planning: action in a company is guided by a well thought out plan because a budget s prepared after a careful study and research. Also the budget serves as a mechanism through which management 's objectives and policies are effected.

2. Coordination. The budgetary control co-ordinates the various activities of the firm and secure co-operation of all concerned so that the common objective of ...

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