5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate performance. B. It uncovers drawbacks of department performance C. It reduces the need to track the actual cost activity D. It formalizes a manager's planning efforts.
5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate performance. B. It uncovers drawbacks of department performance C. It reduces the need to track the actual cost activity D. It formalizes a manager's planning efforts.
5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate performance. B. It uncovers drawbacks of department performance C. It reduces the need to track the actual cost activity D. It formalizes a manager's planning efforts.
Solve this question with steps. The subject is Managerial Accounting
Transcribed Image Text:5. Which of the following is not a benefit of budgeting?
A. It sets some standards to evaluate performance.
B. It uncovers drawbacks of department performance
C. It reduces the need to track the actual cost activity.
D. It formalizes a manager's planning efforts.
Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.
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