Asked by Imani Devaughn on Jun 21, 2024
Verified
Consulting the persons affected by a budget when it is prepared can provide an effective means of motivation and cooperation.
Budget Preparation
The process of creating a plan that estimates the revenue and expenses for a future period.
- Learn about the contributions of different departments and stakeholders in the planning and carrying out of budget processes.
- Determine approaches to foster motivation among staff through financial planning.
Verified Answer
ZW
Zovisa WellsJun 22, 2024
Final Answer :
True
Explanation :
Consulting with those affected by a budget can help to increase their understanding and ownership of it, which in turn can lead to a greater willingness to work within its constraints and support its goals. This can ultimately make it easier to achieve the desired outcomes and maintain momentum over time.
Learning Objectives
- Learn about the contributions of different departments and stakeholders in the planning and carrying out of budget processes.
- Determine approaches to foster motivation among staff through financial planning.
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