FINANCIAL TERMS Homework Help

FINANCIAL TERMS

Budgets are prepared in financial terms, that is, in terms of monetary value such as the rupee dollar, and so on. The reason is that the monetary unit is a common denominator. The various activities and operations arc expressed in different units, for example, material in terms of weight labor in terms of number/man-hours, sales in terms of territories, advertisement in terms magazine space, and so on. If they have to be integrated in a plan, they must be expressed comparable units of measurement. Monetary units provide such a measure.

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