Which of the following statements is incorrect? * O An imposed budget is the same as a participative budget. O The preparation of the budget would be the responsibility of each responsibility unit. O Top management's support is necessary to promote budget participation. O The top management should review and approve each responsibility unit's budget.
Which of the following statements is incorrect? * O An imposed budget is the same as a participative budget. O The preparation of the budget would be the responsibility of each responsibility unit. O Top management's support is necessary to promote budget participation. O The top management should review and approve each responsibility unit's budget.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Which of the following statements is incorrect?
O An imposed budget is the same as a participative budget.
O The preparation of the budget would be the responsibility of each responsibility unit.
O Top management's support is necessary to promote budget participation.
O The top management should review and approve each responsibility unit's budget.
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