Asked by Charlease Jordan on Jun 24, 2024
Verified
The five primary purposes of a budget are:
A) planning, allocating resources; facilitating communication and coordination; controlling profit and operations; evaluating performance and providing incentives.
B) planning; allocating resources; facilitating communication and coordination; controlling profit and operations; and allocating overhead costs.
C) planning; allocating resources; facilitating communication and coordination; controlling profit and operations; and evaluating competition.
D) planning; allocating resources; controlling profit and operations; providing incentives; evaluating performance; and allocating overhead costs.
Allocating Resources
The process of distributing available resources, such as labor and capital, among various projects or departments to optimize output.
Facilitating Communication
The process of making communication easier within an organization through various tools and strategies to ensure clear, effective exchange of information.
Controlling Profit
The process of managing or influencing the financial outcomes of a business to ensure profitability and achieve financial goals.
- Understand the primary purposes and components of a budget.
Verified Answer
Learning Objectives
- Understand the primary purposes and components of a budget.
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