Define cash inflows and cash outflows
5. If I have a budget where expected gross receipts are what is obtained in #1 and my expected cash disbursements are what is obtained in #2. What can you tell me about the cash balance (obtained in #3) if you were doing a variance analysis?
6. What is a cash budget, a flexible budget, CAPEX, and OPEX?
7. How often do you use some form of budgeting? Why?
8. If the business world is allowed to explain away their variances to budget, why is budgeting so important
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