There are several purposes of drawing a budget in a business, such as :
- As a tool for making decisions
- It could be used to monitor your current business activity performance
- You can predict the flow of revenue and expenditure in the future
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Based on project management, the <u>Network Diagram</u> is a roadmap that displays how all the specific activities fit together to accomplish the project work scope.
<h3>Network Diagram in Project Management</h3>
Generally, Network Diagram is a tool used by project managers to visualize the whole concept before the work is carried out. It is also used throughout the project to determine how the work is to be done, including the duration and methods, sequence, and dependency.
<h3>Benefits of a Project network diagram</h3>
- Visual representation of work or project in progress.
- Ascertaining project workflows.
- Tracking dependencies and potential stoppages.
Hence, in this case, it is concluded that the correct answer is Network Diagram.
Learn more about Network Diagram here: brainly.com/question/8147877
Answer and Explanation:
The journal entry is shown below:
WIP inventory - Coloring Dr XXXXX
To WIP inventory - molding XXXXX
(Being the transferring from the molding process to the coloring process is recorded)
For recording this we debited the WIP inventory of Coloring as it increased the assets and credited the WIP inventory of Molding as it decreased the assets
