Asked by Imani Burrell on May 25, 2024

verifed

Verified

Periodic comparisons between planned objectives and actual performance are reported in

A) zero-base reports
B) budget performance reports
C) master budgets
D) budgets

Budget Performance Reports

Documents that compare actual financial outcomes to the budgeted amounts, providing insight into a company's financial performance and budgetary control.

Planned Objectives

Predefined goals or targets an organization aims to achieve within a specific timeframe through strategic planning.

Actual Performance

Actual performance refers to the tangible, measured outcomes of activities or tasks, as opposed to planned or expected results.

  • Understand the significance of budget performance reports in overseeing organizational financial activities.
verifed

Verified Answer

LN
Laetitia NgwepetMay 27, 2024
Final Answer :
B
Explanation :
Periodic comparisons between planned objectives and actual performance are typically reported in budget performance reports, which allow organizations to evaluate their progress towards meeting their financial goals and adjust their strategies and plans as needed. Zero-base reports are more focused on identifying and justifying the need for specific activities or programs, while master budgets are comprehensive financial plans that outline an organization's expected revenues, costs, and expenses over a specified period of time. Basic budgets simply outline an organization's projected income and expenses for a given period, without necessarily including detailed performance metrics or comparisons.