Which of the Following Statements Are Correct,with Regards to Budgeting

question 3

Multiple Choice

Which of the following statements are correct,with regards to budgeting?
(i) The budget must be set centrally
(ii) Budgets should never be exceeded
(iii) There are financial rules governing the layout and calculations of a budget,eg once set,a budget cannot be altered

• A) (ii) only
• B) (ii) and (iii)
• C) They are all false
• D) They are all true

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Definitions:

Monitoring

The ongoing process of observing and checking the progress or quality of something over a period of time.

Work Progress

The advancement or development of tasks, projects, or objectives towards completion over time.

Performance

The manner in which an individual or organization executes tasks or activities, usually measured against a known standard or expectation.

Work Unit Activities

Tasks and responsibilities assigned to a specific team or department within an organization, contributing to its overall objectives.