Budget Preparation - Limiting factors Glossary Flashcards
1
Q
What is a key budget factor?
A
The element or resource of the business that is likely to place limitations on its activities.
2
Q
What is contribution?
A
Selling price unit less variable costs.
3
Q
What is a limiting factors?
A
A factor of production or sales that limits the amount of a product that can be produced or sold.
