Asked by Blair Leclair on May 27, 2024
Verified
The primary budget in nonmanufacturing businesses is the staffing budget.
Staffing Budget
A staffing budget outlines the financial resources allocated for hiring and compensating employees within a specific time period.
Nonmanufacturing Businesses
Companies that do not produce physical goods, focusing instead on services, retail, distribution, and other non-manufacturing activities.
- Identify and differentiate the various kinds of budgets employed in the budgeting process of a company.
Verified Answer
AR
ASHISH ROHILLAMay 31, 2024
Final Answer :
True
Explanation :
In nonmanufacturing businesses, the primary budget is often the staffing budget because labor costs typically represent the largest expense, and managing these costs is crucial for financial planning and control.
Learning Objectives
- Identify and differentiate the various kinds of budgets employed in the budgeting process of a company.
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