All true or false 1. Larger, more complex organizations usually require a longer time to prepare...

All true or false

1. Larger, more complex organizations usually require a longer time to prepare their budgets than smaller organizations because of the considerable effort to coordinate the different units within the business.

2.The budget process rarely coincides with the accounting period.

3.The manufacturing budgets include the sales budget and the budgeted income statement.

4.Management by exception means that managers focus on the most significant differences between actual costs and standard costs.

Expert Solution

Ans:

1.

Yes it is True that, Larger and more complex organizations usually require a longer time to prepare their budgets than smaller organizations because of the considerable effort to coordinate the different units within the business. Size of a business decides ghow much time it will take to prepare the budget.

2.

False, the budget process rarely coincides with the accounting period. Bugdets are prepared to compare them with actual results. So it normally coincides with accounting period not rarely.

3.

False, The manufacturing budgets include the sales budget and the budgeted income statement. The manufacturing budgets cover Material, Labor and overhead costs per unit of manufacturing process will require.

4.

Yes it is True, that Management by exception means that managers focus on the most significant differences between actual costs and standard costs. the main purpose behind this is to focus to areas which needs attention.

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