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Questions and Answers
Which of the following is not a benefit of budgeting, according to the text?
Which of the following is not a benefit of budgeting, according to the text?
- The coordination of activities is facilitated.
- An early warning system is provided for potential problems.
- Management can plan ahead.
- It enables disciplinary action to be taken at every level of responsibility. (correct)
What is the most common length of a budget period, according to the text?
What is the most common length of a budget period, according to the text?
- One year (correct)
- Depends on the organization
- Monthly
- Quarterly
What is the primary basis for setting budget goals, according to the text?
What is the primary basis for setting budget goals, according to the text?
- Anticipated advertising and promotion
- Sales forecast
- General economic conditions
- Past performance (correct)
Which of the following is not mentioned as a factor considered in sales forecasting, according to the text?
Which of the following is not mentioned as a factor considered in sales forecasting, according to the text?
What is the primary purpose of participative budgeting, according to the text?
What is the primary purpose of participative budgeting, according to the text?
Which of the following is an advantage of participative budgeting?
Which of the following is an advantage of participative budgeting?
What is the primary purpose of a budget according to the text?
What is the primary purpose of a budget according to the text?
Who is typically responsible for presenting management's budgeting goals in financial terms?
Who is typically responsible for presenting management's budgeting goals in financial terms?
What is a key benefit of budgeting mentioned in the text?
What is a key benefit of budgeting mentioned in the text?
Why is budgeting considered a control device according to the text?
Why is budgeting considered a control device according to the text?
In what way does budgeting contribute to efficiency as per the text?
In what way does budgeting contribute to efficiency as per the text?
Which statement accurately describes the relationship between budgeting and accounting based on the text?
Which statement accurately describes the relationship between budgeting and accounting based on the text?
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