To Enable the Budget to Be Used as a Control

question 40

Multiple Choice

To enable the budget to be used as a control tool to monitor the entity's achievements of its plans,the classification of items in the master budget needs to:

• A)mirror the organisation's chart of accounts
• B)mirror the balanced scorecard
• C)mirror the strategic plan
• D)all of the options are correct

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Definitions:

Business Organization

A legal entity formed to conduct business, such as a corporation, partnership, or sole proprietorship.

Wyoming

A state in the western United States known for its wide-open spaces, mountains, and national parks.

Uniform Limited Liability Company Act

A comprehensive statute that provides a legal framework for the formation, operation, and dissolution of limited liability companies (LLCs) in the jurisdictions that adopt it.

Operating Agreement

Operating agreement is a legal document outlining the governance and operating procedures of a limited liability company (LLC), including the rights and responsibilities of the members.