The financial management practices which are least effective in creating and monitoring an operating budget include top down/bottom up budgets, poor inventorying, lack of control, over control, and lack of staff investment.
In business, financial management includes the practice of making a business plan and then ensuring that all departments which falls under it stay on track and work properly.
Creating and monitoring an operating budget for the national government involves four distinct processes which are, budget preparation, budget authorization, budget execution and accountability.
Hence, the operating budget helps in keeping track of the income and expenses in an organization.
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Answer: A business legally separate from its owners.
Explanation:
A corporation is an organization which is seen legally as being separate from the owner(s). Legally, a corporation is seen as being on its own and therefore can: obtain loans, be Sue, pay taxes etc.
Packaging and labeling, in addition to benefiting the final consumers, also provides a <u>competitive advantage</u> for the firm.
<h3>What are packaging and labeling?</h3>
Packaging and labeling are the processes of designing and developing suitable packages for the enclosure of products and providing some instructions and suggestions for product usage.
While packaging focuses on the product's appearance, labeling is mainly concerned with the product's description.
Thus, packaging and labeling, in addition to benefiting the final consumers, also provides a <u>competitive advantage</u> for the firm.
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