Question

Gabrielle is the chief marketing officer of Boyd Pharmaceuticals. She is meeting with Trent, the chief financial officer to decide on the company's marketing communications budget. After extensive discussions, they decide that the size of the budget will be calculated as a fraction of the overall turnover. What method did Gabrielle and Trent use to arrive at the marketing communications budget

Answer 1

Percentage of Sales Method

Step-by-step explanation:

The Percentage of Sales Method is a financial forecasting method that businesses use to predict their sales growth on an annual basis. the method is used to predict the amount of financing needed to acquire to help accomplish business goal. The two main financial statements used in this approach are the balance sheet and the income statement.