FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Briefly describe the type of human behavior problems that might arise if budget goals are set too tightly
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- When would a static budget be effective in evaluating a manager performancearrow_forwardDiscuss the factors that are likely to cause managers to submit budget estimates of sales and costs that do not represent their best estimate or expectations of what will actually occur.arrow_forwardindicate yes if it describes a potential benefit of budgeting orno if it describes a potential negative outcome of budgeting. Budgets are useful in assigning blame for unexpected results.arrow_forward
- 1. The organizational process of budgeting performs several important functions. Which is true? A. Assigns decision rights B. Shares knowiedge C. Measures performance D. All of the choices are correctarrow_forwardWhich of the following describe the control aspect of the budgeting process? Please select all that apply. Rewarding the achievement of challenging targets. Checking progress towards achieving targets and objectives. Regular comparison of budgeted and actual outcomes. Investigating the causes of variations between budgeted and actual outcomesarrow_forwardWhich of the following is not the key purpose of budget: Planning Controlling and Administering Reporting and evaluating Maximizing the profitarrow_forward
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