Asked by Fallon Elise on Jul 08, 2024
Verified
The budget itself and the administration of the budget are the responsibility of the accounting department.
Accounting Department
A division within a company that handles financial reporting, bookkeeping, payroll, and other financial-related activities.
- Learn about the foundational concepts of budgetary control and the pivotal importance of authority and responsibility.
Verified Answer
IL
Ibrain LozoyaJul 09, 2024
Final Answer :
False
Explanation :
The budget and its administration typically fall under the responsibility of the finance department or a specific budget department, with collaboration from various departments including accounting for accurate financial reporting and analysis.
Learning Objectives
- Learn about the foundational concepts of budgetary control and the pivotal importance of authority and responsibility.
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