Which of the following budgeting processes is LEAST likely to motivate managers toward organizational goals?a. setting budget targets at attainable levelsb. participation by subordinates in the budgetary processc. use of management by exceptiond. holding subordinates accountable for the items they controle. having top management set budget levels

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: Identify at least three benefits of budgeting in helping managers plan and control a business.

A: Budgeting in a business has benefits and consequences that go beyond the financial dimension and…

Q: managers duty to take appropriate action when accounting reports indicate

A: Managers are involved in planning and implementing appropriate actions to lead the organization…

Q: 2.Based from the given choices below, peruse which is not considered to be a primary goal of…

A: Budgeting is the act of estimating revenues and expenses for a certain time period in the future.…

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

A:

Q: Describe the importance of Budgeting in the Business

A: Budgeting entails planning in order to support an organization's planned goals. Every business must…

Q: hy is it important to comply with ethical provisions and be transparent in budgeting?

A: Budgeting refers to the process of formulating a plan which describes the ways and zones under which…

Q: What is the impact of responsibility reporting and budgeting on an organization?

A: A manager's performance is evaluated based on matters that are directly under the control of that…

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: 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: 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: These statements are proper to the budgeting process except A It is part of management's…

A: Budgeting is a crucial process in the management of any organization, whether it is a small business…

Q: Financial and cost accounting are both highly concerned with a. Preparing budgets b. Determining…

A: Financial accounting records the monetary transactions, summarizes them, and reports them to analyze…

Q: PLEASE ANSWER ALL TRUE OR FALSE 18. The basic idea behind responsibility accounting is that each…

A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…

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: Evaluate and detail the significant steps in setting a financial / cost controlling budget in a…

A: Answer:-  Budget:- The projection of future income and expenses can be done with the help of a…

Q: An evaluation of the role that budgets play in the effective planning and control of resources in an…

A: Budgets are an essential tool for effective planning and control of resources in an organisation.…

Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…

A: Organizations produce budgets for a variety of purposes, including cost control, performance…

Q: Budgeting can be an important management tool if implemented properly. Identify several positive…

A: A plan that is written down and followed to determine how one will spend money on a monthly basis is…

Q: What are some characteristics of performance-based budgeting? What are some advantages and…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

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: Required: Identify the problems that appear to exist in the company’s budgetary control system and…

A: Budgetary Control System:- It is a system in which the actual income and expenditure of the company…

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: When a manager seeks to achieve personal departmental objectives that may work to the detriment of…

A: In the given situation, it it observed that the manager is focused on achieveing the departmental…

Q: Which of the following is not a benefit of participative budgeting? Multiple Choice O O O O It…

A: Participative budgeting, also called as bottom-up budgeting, involves employees in the budgeting…

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: The best that describes the top management's role in budgeting process is that top managemen 1.…

A: The budget is prepared to estimate the requirements for the future period. The budget is prepared…

Q: . Budgeting involves ________. establishing specific goals executing plans to achieve the…

A: Budgeting: The act of developing a strategy for how to spend your money is known as budgeting. A…

Q: Analyze the nature and purpose of budgeting, the stages involved in the preparation of budgets,…

A: Budgeting is a process of making a plan to spend money. The spending plan is called budget. It helps…

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: When would a static budget be effective in evaluating a manager performance

A: We know that budgeting is a planning tool through with entities define a predefined target for…

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: The successful use o a budgeting system Acceptance and support by key management people. A sense of…

A: Accordingly, Option (d) i.e. inclusion of "budgetary slacks" in most budgets is the correct answer.

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: 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: ​_______ 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 one of the following is related to the decision making function of management: O a.…

A: Management is required to take various decisions from time to time so as to perform the business…

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.