First step in the budgetary process is to:
A)Buy a lot of accounting paper.
B)Translate the sales forecasts into sales quotas.
C)Translate the sales forecasts into work that must be done.
D)Call a meeting of all of the sales reps.
E)None of these.

Question

Quizplus · Accepted Answer

The first step in the budgetary process is to translate the sales forecasts into work that must be done. This involves determining the specific tasks and activities that will be required to achieve the sales goals and objectives. From there, it becomes possible to estimate the costs and resources that will be needed to carry out the work, and to develop a comprehensive budget that includes all the necessary expenses. The other options listed may be important at some point in the budgetary process, but they are not the first step.

First Step in the Budgetary Process Is To