What are some characteristics of performance-based budgeting? What are some advantages and disadvantages of performance-based budgeting?

Q: Benefits of Budgeting include all of the following EXCEPT: A) Promotes analysis of results B)…

A: Budgeting is the process of creating a strong plan to spend the funds of the organization. budgets…

Q: Various types of budgets facilitate understanding about the big picture of a business. There are…

A: Budget A budget is the estimate of incomes and expenses over a specified period. A budget helps in…

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: 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 an organization involves its many employees in the budgeting process in a meaningful way, the…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Which of the following is not considered a benefit of the budgeting​ process?   a. Gives managers…

A:

Q: Why is it important that a firm prepares a budget and how they analyze the ongoing performance? What…

A: Budgeting is a financial plan that helps the organization in effective utilization of its resources.…

Q: Which among the expenses you have listed covers the majority of the budget? Which among the expenses…

A: Expenses are the outflow of the cash to pay-off any expenditure during the accounting year. Balances…

Q: A company can expect to receive which of the following benefits when it starts its budgeting…

A: Budgeting is the process of estimation of revenue and expenditure into the foreseeable future. It is…

Q: Efficient and effective use of limited resources is the key to success in today’s economy. Assisting…

A: Budgeting is a tool used in planning and controlling process of an organisation. It involves…

Q: Discuss why small businesses might not choose to extensively engage in the budget process.  Also…

A: Budgeting is an important part of the business process. Without budgeting a business can not track…

Q: The benefits of comparing actual performance of the operations against planned goals include all of…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Budgets

A: following statements is true.

Q: Which of the following statements are TRUE? 1. Responsibility accounting attempts to assign blame…

A: Statement I: Responsibility accounting helps identify and track costs that specific managers can…

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: Now, as a management accountant, choose three (3) negative attitudes, explain them and write yourr…

A: Negative attitudes from a management’s perspective are: Resistance from Employees. High cost for…

Q: Budgets are an integral part of management control systems. Evaluate this statement with real life…

A: As you have posted multiple independent questions, we are answering the first question. Kindly…

Q: With one exception, the following objectives are accomplished by budgeting. Which of these…

A: Budgeting is to make planning for the future and budget provides the direction and guidelines for…

Q: Which of the following should a manager consider when creating a sales budget ? All of the listed…

A: The objective of the question is to identify the factors that a manager should consider when…

Q: Which of the following is true of a budget? O A. Budgets help managers to revise their plans and…

A: Introduction: Budget: Budget means an estimation for future period with past period data. Branches…

Q: A company can expect to receive which of the following benefits when it starts its budgeting…

A: Benefits when it starts budgeting process: The benefit of budgeting process is to compare the actual…

Q: Which of the following is true in a bottom-up budgeting approach?   Group of answer choices…

A: Bottom-Up Budgeting Approach : It is one type of budgeting which starts from Bottom Departmental…

Q: Which of the following is not a benefit of budgeting? O Provide a way to measure business…

A: The answer is : Provide a way to hire specialized labors. Hiring specialised labour is not something…

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: How are the master budget and the production budget related? How does the understanding of the…

A: The master budget is a comprehensive financial plan that outlines a company's financial goals and…

Q: III. Challenging budgets tend to motivate improved performance.

A: In the budget, the targeted performance of each employee is determined. These can be used as a…

Q: A SMART goal is specific, making, actionable, relative, timely. significant, making, actionable,…

A: since you have asked multiple, we will solve the first question for you if you want any specific…

Q: Which one of the following is not considered to be a benefit of participative budgeting? When…

A: Budgeting - Budgeting is the estimation made by the managers of the organization based on the past…

Q: Budgets need to be fair and attainable for employees to consider the budget important in their…

A: The objective of the question is to identify which of the given situations can potentially lead to…

Q: planning

A: Planning, budgeting & financial forecasting plays an important role in any organization to take…

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: Explain why it would be beneficial to prepare a cash forecast, or a cash budget, for an…

A: There are various reasons why cash forecast or cash budget is to be prepared. But the primary…

Q: 1. Budgets should not be used to motivate and reward employees.   2. Budgets play an important…

A: Budgeting: Budgeting means forecasting for the future , To achieve goals in business budgeting to be…

Q: Why do companies and businesses create budgets, what is the importance and how do budgets help…

A: Budget: Budget is a formal statement of a company's future plans expressed in monetary terms that…

Q: Explain what responsibility accounting is and how budgets are used in responsibility accounting. How…

A: Responsibility accounting: Responsibility accounting includes accounting and forecasting. It assists…

Q: Each of the following statements includes a pair of words within parenthesis. Indicate which of the…

A: Each of the following statements includes a pair of words within parenthesis. Indicate which of the…

Q: When a company develops and implements a master budget, there is a tendency to incentivize adherence…

A: In accounting master budget is a very important financial planning document.   Essentially a master…

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: Organizations rely on effective budgetary planning for successful financial performance. Explain how…

A: Budgeting: Budgeting is a process of estimating future income, expenses and cash flow for a future…

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: Provide a letter of advice: • discuss the key results of the income statement and cash budget • make…

A: Financial Analysis It is important for the business entity to make effective analysis in the…

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.