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    Creating a Budget

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    Create a Budget based on the virtual organization attached. Please outline some of the different types of budgets.

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    Solution Preview

    Budget refers to the allocation of resources by laying down a plan. Most of the components are the same but some components can differ depending on the nature of the organization. The operating budget is a plan to monitor anticipated day-to-day activities, resources, personnel, and supplies, typically over a one-year period (Finkler, 2001). Managers should have a sufficient financial understanding of their organization to make decisions in a prudent ...

    Solution Summary

    This solution explains how to produce a given organization's budged, and outlines the different types of budgets and how they affect the other budgets.