Which Statement About the Uses of Budgets Is Not True

question 23

Multiple Choice

Which statement about the uses of budgets is not true?

• A)They can assist in identifying short-term problems.
• B)They can provide a system of authorisation for managers to spend up to a particular limit.
• C)They are mainly used to set prices.
• D)None of the above, i.e., all are true statements.

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Definitions:

Real Time

Referring to processes or systems that can instantly respond and update based on inputs at the moment they are received.

Inventory Visibility

The ability of a company to track and understand its inventory levels, location, and status in real-time or near-real-time.

Integrated Supply Chain

A strategic approach to synchronizing the production, shipment, and delivery of products and materials in the most efficient and cost-effective way.

Linear Supply Chains

Traditional supply chain models where products flow in a straight line from supplier to manufacturer to wholesaler to retailer to consumer.