Budget Preparation - Limiting factors Glossary Flashcards Preview

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Flashcards in Budget Preparation - Limiting factors Glossary Deck (3)
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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.