Which of the following is NOT an objective of the budgeting process? O a. To communicate management's plans throughout the entire organization C D.To provide a means of allocating resources to those parts of the organization wher be used most effectively C. To ensure that the company continues to grow OTo uncover potential bottlenecks before they occur

Which of the following is NOT an objective of the budgeting process? O a. To communicate management's plans throughout the entire organization C D.To provide a means of allocating resources to those parts of the organization wher be used most effectively C. To ensure that the company continues to grow OTo uncover potential bottlenecks before they occur

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 1MC: Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing...

See similar textbooks

Similar questions

Which of the following is true in a bottom-up budgeting approach? Every expense needs to be justified. Supervisors tell departments their budget amount and the departments are free to work within those amounts. Departments budget their needs however they see fit. Departments determine their needs and relate them to the overall goals.
Why is a clear understanding of managements goals and objectives necessary for effective budgets?
Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgeting
Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing performance evaluations D. preventing net operating losses
Which of the following is NOT an objective of the budgeting process? Group of answer choices a - To communicate management's plans throughout the entire organization b - To ensure that the company continues to grow. c - To uncover potential bottlenecks before they occur d - To provide a means of allocating resources to those parts of the organization where they can be used most effectively.
1. Which of the following is an advantage of the budgeting process? a. It forces management to focus on the past and not be distracted by the day-to-day operations of the business. b. It can communicate to employees specific information about their past performance to determine their promotion prospects. c. It can communicate to employees specific information about their past performance to determine their promotion prospects. d. It can communicate to employees information about their performance expectations in the period ahead. 2. Which one of the following statements regarding changing inventory costing methods is true? a. A change in inventory methods can be justified if the change is made to better match profits with revenue b. Changing inventory costing methods violates comparability c. One place that the reader of an annual report would be able to identify that a company changed inventory costing methods is the statement of shareholders' equity d. Changing inventory costing…
Which of the following budgeting processes is LEAST likely to motivate managers toward organizational goals?a. setting budget targets at attainable levelsb. participation by subordinates in the budgetary processc. use of management by exceptiond. holding subordinates accountable for the items they controle. having top management set budget levels
Which of the following is not a benefit of budgeting? a. It sets some standards to evaluate performance. b. It uncovers drawbacks of department performance c. It reduces the need to track the actual cost activity d. It formalizes a manager's planning efforts
Which of the following is not an advantage of budgeting? a) Forces managers to planb) Provides information for decision makingc) Guarantees an improvement in organizational efficiencyd) Provides a standard for performance evaluatione) Improves communication and co-ordination
1. Budgeting involves ________. establishing specific goals executing plans to achieve the goals periodically comparing actual results with the goals All of these choices are correct. 2. Budgeting affects all of the following managerial functions except ________. planning directing controlling None of these choices are correct.
[1] The major objectives of any budget system are to A. Foster the planning of operations, provide a framework for performance evaluation, and promote communication and coordination among organization segments. B. Define responsibility centers, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates. C. Define responsibility centers, provide a framework for performance evaluation, and promote communication and coordination among organization segments. D. Foster the planning of operations, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates.
Which of the following is NOT true of the budgeting process? Question 8 options: Budgeting provides feedback to management to aid in assessing how well it's reaching its goals. Budgets force managers to plan for the future. Budgets force managers to consider relations among operations across the entire value chain. The performance report is prepared as part of the master budget.