Regarding the Budgeting Process for the Entire Firm

question 95

Multiple Choice

Regarding the budgeting process for the entire firm:

• A)Using a short-term (3 month)budget destroys the value of a budget as a tool for managerial control.
• B)The process starts with the preparation of a financial department budget,because that is where the money comes from.
• C)The sales budget depends upon the production department budget.
• D)Small firms really do not need budgets.
• E)None of these is correct.

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