Day 61

After studying Lesson 12-1, you will be able to:

  1. Recognize important financial questions that must be answered in a business.
  2. List the steps in budget preparation.
  3. Describe three types of business budgets.

Assignment 12.1.1

  1. Log into your Google Drive account.
  2. Navigate to your Unit 3 folder.
  3. Inside of the Unit 3 folder, create a new folder titled Chapter 12.  Everything you create in Chapter 12 will be stored in this folder.

Assignment 12.1.2

  1. Obtain a copy of the notes handout.
  2. Read Lesson 12-1 on pages 288-293.
  3. As you read, utilize this presentation to help you fill in the missing parts on the handout.

Assignment 12.1.3

  1. Lesson 12-1 Assessment

Assignment 12.1.4

  1. Create a new Google Sheets spreadsheet, name it Budget-(Your Initials), and move it into your Chapter 12 folder.
  2. Use the internet to locate a sample business budget.  Copy and paste the web address into cell A1.  Enter the entire budget into your spreadsheet.  Name this sheet (Business Name) Budget.
  3. In a new sheet, develop a new budget by adjusting each of the income and expense items in the budget with a 3 percent increase.  Name this sheet Budget Increase.
  4. Then develop another budget by adjusting the original income and expense items with a 1.5 percent decrease.  Name this sheet Budget Decrease.