Which of the Following Statements Regarding Budgeting Is False

question 52

Multiple Choice

Which of the following statements regarding budgeting is false?

• A) The focus of budgeting is planning.
• B) Many companies use enterprise resource planning (ERP) systems as a budgeting tool.
• C) Budgeting is a bookkeeping task.
• D) Budgeting helps managers determine the resources needed to meet their goals and objectives.

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Definitions:

Society of Worldwide Interbank Financial Telecommunications

An international messaging network that financial institutions use for securely transmitting information and instructions related to financial transactions.

International Payment Transfers

Financial transactions that involve the sending of money across international borders.

Global Telecommunications

Worldwide infrastructure and services for the exchange of information through electronic networks.

Commercial Letter

A formal document used in business transactions that typically contains specific information and terms regarding a deal or agreement.