Regarding the Budgeting Process,which of the Following Statements Is True

question 125

Multiple Choice

Regarding the budgeting process,which of the following statements is true?

• A)Top corporate management should always design the budget.
• B)The company's external auditors should always approve the budget.
• C)The budget should be designed from the bottom up,with input from managers at all levels.
• D)All of the listed statements are true statements about the budgeting process.

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Definitions:

Capital

Refers to the wealth, either financial or other resources, possessed by an individual or business that can be used for investment or operational purposes.

Timing

The act of choosing the optimal moment to execute an action in order to achieve the desired outcome.

Harvest Strategy

A business plan for extracting the value of an investment, typically when a firm is ready to be sold or liquidated.

Time Frame

A specified period during which certain activities or events occur or are completed.