Indicate Whether Each of the Following Statements Is True or False

question 120

Short Answer

Indicate whether each of the following statements is true or false.
1. Employees often find that budgets are constraining and limiting.
2. Budgets establish standards by which performance is evaluated.
3. The attitudes and actions of upper-level management have little impact on the effectiveness of a company's budget.
4. Participative budgeting means that a company's budget should be prepared with the input of lower-level employees.
5. In preparing a budget, information flows occur only from the bottom up.

Understand the role and functions of the Federal Reserve System.

Identify the stages of the adult life and financial needs cycle.

Recognize the components of financial planning including obtaining, saving, sharing, protecting, and borrowing.

Comprehend the concepts of liquidity and how it affects financial decisions.