Describe the benefits to an organization of preparing an operating budget. Discuss the importance of the sales forecast and items that influence its...

a.             Describe the benefits to an organization of preparing an operating budget.

b.             Discuss the importance of the sales forecast and items that influence its accuracy.

c.             Norman Whiteside, insurance sales manager at Eastern Assurance, has been asked to project how many new policies he will sell in 20x4. The local economy has been growing, and the insurance industry has experienced a 10% increase in the number of new policies sold over each of the past five years. In 20x3, Whiteside sold 5,000 new policies.