Which of the Following Is True of Master Budgets

question 160

Multiple Choice

Which of the following is true of master budgets?

• A) They include only financial aspects of a plan and exclude nonfinancial aspects.
• B) Includes both financial and nonfinancial aspects of management's plans.
• C) They aid in quantifying the expectations of all stakeholders.
• D) They must be administered rigidly after they are committed to.

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Definitions:

Industry Standards

Established norms and requirements within a specific industry that guide processes, ensure quality, and promote safety.

Society's View

Represents the collective opinions, values, and attitudes of a community or population towards different issues or entities.

Opportunity

A favorable situation or condition that enables the achievement of a goal or the fulfillment of a need.