Asked by Jenny Mclin on Jul 11, 2024
Verified
A budget
A) is a substitute for management.
B) is an aid to management.
C) can operate or enforce itself.
D) is the responsibility of the accounting department.
Aid To Management
Support or assistance provided to management teams through various tools, techniques, or resources to enhance decision-making and efficiency.
- Determine the various positions and obligations involved in the budget management process, which include the creation, communication, and execution of monetary policies.
Verified Answer
AB
Andrew BustamanteJul 16, 2024
Final Answer :
B
Explanation :
A budget is an aid to management because it helps managers plan and control their operations by setting target goals, establishing priorities, and monitoring performance. While the accounting department may be involved in preparing and monitoring the budget, ultimately it is the responsibility of all managers to participate in the budgeting process and use the budget as a tool for making decisions. A budget cannot operate or enforce itself, and it is not a substitute for management.
Learning Objectives
- Determine the various positions and obligations involved in the budget management process, which include the creation, communication, and execution of monetary policies.
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