8. Budgets

3. A budgeting method where every cost must be justified from zero, rather than based on previous budgets.
5. A variance that benefits the business, such as higher revenue or lower costs than expected.
7. The total money a business earns from selling goods or services.
8. Plans that estimate future income and expenditure for a set period, helping a business control its finances.
10. A plan that outlines the expected spending of a business over a period.
12. When responsibility or authority is passed to another person, often to allow quicker or more efficient decision‑making.
14. A plan that forecasts the expected income or revenue a business aims to receive.

1. To rise and fall unpredictably; describes changes in costs, sales, or demand.
2. The difference between the budgeted amount and the actual amount. Formula: Actual – Budgeted.
4. A variance that harms the business, such as lower revenue or higher costs than expected.
6. All expenses a business must pay to operate, such as wages, materials, rent, and utilities.
9. A document comparing budgeted figures (planned income/expenditure) with actual figures, showing variances.
11. A person who starts and runs a business, taking financial risks in the hope of making a profit.
13. The standards or rules used to judge or evaluate something, such as decisions, performance, or options.