hy is it important to comply with ethical provisions and be transparent in budgeting?
Q: Managers should be closely involved in preparing their responsibility accounting budget. How true is…
A: Generally, managers should be involved in preparing their responsibility accounting budget.
Q: Many accountants believe that the most important benefit of the master budgeting process is the…
A: Master budget: The master budget is the core budget that describes the full process of budget. This…
Q: Discuss the factors that are likely to cause managers to submit budget estimates of sales and costs…
A: Budgetary slack: Creating an extra gap in the budget is known as budgetary slack which refers to…
Q: Which provides the most benefit to an organization, a budget or the budgeting process? Why?
A: Budget: A budget is a systematic allocation of resources to different departments depending on the…
Q: Which one of the following best describes the role of top management in budgeting process? Top…
A: Role of top-level management in the budgeting process - - management must make that all the levels…
Q: Explained how the company's budgetary control system could be revised to improve its effectiveness.
A: The company is work on the budget to be initially made with a view to follow the pattern…
Q: Which of the following statements is false? Select one: a. According to responsibility accounting,…
A: The appropriate statements are chosen as per their accuracy and correctness.
Q: When developing a budget, an EXTERNAL factor to consider in the planning process is - Group of…
A: While planning process, both the internal and external factors are taken into consideration.…
Q: 1.) Why is it necessary to determine and confirm scope and nature of budgetary planning activity…
A: answer It is necessary to determine and confirm scope and nature of budgetary planning activity with…
Q: 5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate…
A: Budgets are compiled at least annually by most companies in order to plan their operations for the…
Q: What are the benefits of budgeting?
A: Budgeting is the process of designing, implementing, and operating budgets. It is the managerial…
Q: Which among the following is not an element of budgeting? a. Budgeting should state the firm’s…
A: Budgets are prepared on weekly, monthly, or yearly basis to make plans for the future which needs to…
Q: There are a number of benefits associated with budgeting. Which of the following is not frequently…
A: Budgeting refers to the process of estimation of revenues and expenses for an entity over a specific…
Q: What is the role of the Office of Management and Budget OMB?
A: Office of the Management and the Budget (OMB): This is the office which is part of the Executive…
Q: . Why is it important to provide relevant colleagues with adequate notice of the opportunity to…
A: Answer: It is important to provide relevant colleagues with adequate notice of the opportunity to…
Q: For the purpose of effective budgetary control, it is imperative on the part of each entity to have…
A: Budget is a statement which reflects Future inflow as well as outflow of cash for a particular…
Q: t is a document which defines the objectives of budgetary control system. It spells out the duties…
A: The above paragraph defines and explains a document which sets out the whole plan of the budgetary…
Q: It is important for institutions to budget and to further have feedback by receiving regular…
A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…
Q: Explain the concept of control and budgetary control
A: SOLUTION- CONCEPT OF CONTROL- IT IS ONE OF THE IMPORTANT FUNCTION OF MANAGER . IN ORDER TO SEEK…
Q: Why do the authors suggest that a thorough review of the firm’s chart of accounts, account…
A: The entire budgeting and planning exercise involves careful review and analysis of the revenues and…
Q: how will the skills and knowledege in constructing cash budget be applicable on the job of…
A:
Q: how can I apply MIS ( management information system ) successfully in this topic: A PERSONAL…
A: Management accounting is the act of distinguishing, estimating, investigating, deciphering, and…
Q: 1. The organizational process of budgeting performs several important functions. Which is true? A.…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: When the budgeting process is communicated according to corporate policy, the employees involved are…
A: The process of preparing budgets is known as the budgeting process. A budget is basically a…
Q: A budget represents a target and aiming towards a target can be a powerful motivator. However,…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Which of the following is not the direct benefit of the budgeting process? Identification of…
A: The process of budgeting involves the estimation of the costs and revenues of the entity for future…
Q: 1. Explain the concept of responsibility accounting and its relation with budgeting.
A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…
Q: how budgeting is useful in managing businesses?
A: Budget: The forecast of transactions on the basis of the available resources for a particular period…
Q: Which of the following is NOT an objective of the budgeting process? O a. To communicate…
A: Please see the next step for the solution
Q: what is contemporary organization and would you recommend budgeting for contemporary organisations…
A: Contemporary organization It is a type of organizational structure that is fluid and it is easy to…
Q: How does budgeting help management coordinate and plan business activities?
A:
Q: _______ can be defined as compelling events to go according to plan. A. Budgeting B. Management…
A: Compelling events are events that forces to take some decision.
Q: Which of the following statements relating to budgeting is NOT true? a) A budget is a formal…
A: The question is multiple choice question. Required Choose the Correct Option.
Q: Budgeting is essential to businesses, but it is not that simple to implement. What are some…
A: Introduction: Budgeting is thought to be the purchase of important financial decisions that aid in…
Q: Why is it important to have a fair, balance criteria in making budge
A: Budgeting model is the model which establish the budget for business where it match the actual…
Q: 1. How does budgeting provide important information to managers and operating personnel?
A: Budget is like preparing plan for the future process and it includes how efficiently sources or…
Q: Which of the following budgeting processes is LEAST likely to motivate managers toward…
A: Budget Process: The budget process assists the management by determining standards for the…
Q: Which of the following best describes the role of top management in the budgeting process? Should…
A: Correct option is 3.Should be enthusiastic and committed to the budget process
Q: Which of the following is true in a bottom-up budgeting approach? a.Supervisors tell departments…
A: Management adapts the current year's budget to suit future objectives, making changes as needed.…
Q: Budgeting is the same across different organisations and industries, so organisational strategy,…
A: Budgeting are estimated standards set which acts like an yardstick for respective departments…
Q: (3) Explain the ethical considerations as it relates to using budgets as a basis for rewarding…
A: 3) Using budgets as a basis for rewarding managers can lead to conflict of interest. The managers,…
Q: Which of the following is not an advantage of participative budgeting?a. It encourages budgetary…
A: Participatory budgeting involves lower-level management personnel in the creation of the budget.…
Q: 5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate…
A: Budgeting: Budgeting is that the method of making a plan to pay your cash. Benefits of Budgeting…
Q: What are the difficulties that might face by management accountant in budgeting process?
A: The budgeting process is used in financial planning which includes setting goals and gathering data…
Why is it important to comply with ethical provisions and be transparent in budgeting?
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