Budgets Can Serve as a Means of Communicating Top Management

question 72

True/False

Budgets can serve as a means of communicating top management objectives to lower-level managers.

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Definitions:

Cash Receipts

Money received by a business from transactions, including sales, loan proceeds, or other cash inflows.

Control Measures

Actions, mechanisms or policies implemented to regulate processes and diminish risks.

Sarbanes-Oxley Act

A United States federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.

Internal Controls

Procedures and policies implemented by a company to safeguard its assets, ensure accurate and reliable financial reporting, and promote compliance with laws and regulations.