Which of the Following Statements Is True of the Budgeting

question 77

Multiple Choice

Which of the following statements is true of the budgeting process?

• A) If a company carefully plans for its future, there will be no need to make modifications during the budget period.
• B) It is a continuous process that encourages communication.
• C) It shows the actual performance of the business.
• D) Managers and employees are motivated to accept the budget's goals because they enjoy having their work monitored and evaluated.

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Definitions:

Competing Business

An enterprise engaged in the same industry or market as another business, striving to achieve superiority in sales, product, and presence.

Written Agreement

A formally documented arrangement between parties clearly outlining each party's rights, duties, and responsibilities.

Oil Change Store

An oil change store is a service establishment that specializes in changing the oil and oil filter in vehicles as part of routine maintenance.

Compensation

Payment or reward given to someone in exchange for their services or for loss or suffering.