Asked by jamie sherwood on Jul 06, 2024
Verified
The primary benefits of budgeting include all of the following except it
A) requires only top management to plan ahead and formalize their future goals.
B) provides definite objectives for evaluating performance.
C) creates an early warning system for potential problems.
D) motivates personnel throughout the organization.
Top Management
The highest level of management in an organization, including positions such as CEO, CFO, and COO, responsible for overall strategy and direction.
Budgeting Benefits
The advantages of budgeting, including improved financial management, planning, and control, as well as enhanced decision-making.
Early Warning System
A system designed to detect early signs of risk or failure, allowing for preemptive action.
- Identify the significance and advantages of budgeting in organizations, encompassing entities focused on profit as well as those that are not-for-profit.
Verified Answer
Learning Objectives
- Identify the significance and advantages of budgeting in organizations, encompassing entities focused on profit as well as those that are not-for-profit.
Related questions
Mansour Memorial Diner Is a Charity Supported by Donations That ...
Budgeting Involves (1) Establishing Specific Goals for Future Operations, (2) ...
A Benefit from Budgeting Is That It Forces Managers to ...
One of the Weaknesses of Budgets Is That They Are ...
Control Involves Developing Goals and Preparing Various Budgets to Achieve ...