What is the detailed quantitative plan for acquiring and using financi Name the advantages of budgeting. What is the meaning of the master budgets?

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Accounting 2210 test three Chapter 8:  Budget o Detailed quantitative plan for acquiring and using financial and other resources over a specified forthcoming time  The act of preparing a budget is called budgeting  The use of budgets to control an orgs activity is known as budgetary control  Advantages of budgeting o o Budgets communicate managements plans throughout the org. Budgets force managers to think about and plan for future.  Provides a means of allocating resources to those parts of the org where they can be used more efficiently.  The m