Which of the following is an advantage of the budgeting process? It focuses on the needs...

Which of the following is an advantage of the budgeting process?

		It focuses on the needs of customers and ensures that they receive good service and high-quality products at a fair price.
		It can force management to focus on the past and not be distracted by current activities of the organisation.
		It can help facilitate goal congruence throughout the organisation.
		It may lead to managers introducing budgetary slack.

Expert Solution

ekkarill92 answered 2 years ago

Q2. Which of the following statements is untrue? Financial accounting focuses on meeting the needs of...

Q2. Which of the following statements is untrue? Financial accounting focuses on meeting the needs of external users, the investors, and creditors. An organization is a group of individuals who come together to pursue a common set of goals and objectives. There are three common forms of business organization, proprietorship, partnership, and corporation. Corporations listed on stock exchanges are required to prepare annual financial statements but are not generally required to prepare interim financial statements every three months. The first...

Which of the following statements is CORRECT? A) Capital budgeting is the process by which a...

Which of the following statements is CORRECT? A) Capital budgeting is the process by which a firm selects the different amounts and types of capital it should finance its investments with. B) Capital budgeting is generally a short-term decision. C) Capital budgeting is the process by which a firm analyzes alternate projects and chooses the project(s) it wants to invest in. D) Capital budgeting has little to no impact on a firm’s future strategic direction.

1. Which of the following is NOT an objective of the budgeting process? A. To communicate...

1. Which of the following is NOT an objective of the budgeting process? A. To communicate management's plans throughout the entire organization. B. To provide a means of allocating resources to those parts of the organization where they can be used most effectively. C. To ensure that the company continues to grow. D. To uncover potential bottlenecks before they occur. 2. The budget method that maintains a constant twelve-month planning horizon by adding a new month on the end as...

Traditional budget formulation process focuses on the compelling needs to address the widespread problem of poor...

Traditional budget formulation process focuses on the compelling needs to address the widespread problem of poor public sector performance. What are these processes that traditional budget formulation focuses on? Give an example of each focus.

Smith’s Department Store needs to decide which advertising budgeting method to use. The following information is...

Smith’s Department Store needs to decide which advertising budgeting method to use. The following information is needed to calculate Smith’s advertising budget using all three methods. Affordable Budget Method Last year’s sales were $9,815,000 and are projected to increase by 4.5% for next year. Last year’s expenses were 41% of last year’s sales and are projected to decrease by 1.5% for next year. Last year the business earned a profit of $4,587,600. Profit is expected to increase by 2% over...

Describe the the competitive advantage in the GARMENT sector of Bangladesh and the approaches which needs...

Describe the the competitive advantage in the GARMENT sector of Bangladesh and the approaches which needs to taken by the HUMAN RESOURCE MANAGEMENT to maintain the competitive advantages of GARMENTS sectors of Bangladesh. PS : I need to know about these information for garment sector of Bangladesh to prepare myself for an upcoming exam. There isn't any case.

Question

Which of the following is an advantage of the budgeting process? It focuses on the needs...

Solutions

Expert Solution

Related Solutions

Q2. Which of the following statements is untrue? Financial accounting focuses on meeting the needs of...

Which of the following statements is CORRECT? A) Capital budgeting is the process by which a...

1. Which of the following is NOT an objective of the budgeting process? A. To communicate...

Traditional budget formulation process focuses on the compelling needs to address the widespread problem of poor...

Smith’s Department Store needs to decide which advertising budgeting method to use. The following information is...

Describe the the competitive advantage in the GARMENT sector of Bangladesh and the approaches which needs...

Please explain the Budgeting process step-by-step and provide an analysis of why a company needs to...

Which workflow focuses on the “what” aspects of a system and which workflow focuses on the...

Which of the following is an advantage of outsourcing?

Describe the general Budgeting Process and the advantages of using a Budgeting Process in a business.