Which of the Following Statements Concerning Budgeting Is Correct

question 40

Multiple Choice

Which of the following statements concerning budgeting is correct?

• A) All budgets must be prepared in dollar values.
• B) Performance evaluation and budgeting are not closely related.
• C) A budget is an essential step in managing a business efficiently.
• D) A budget prepared by an individual is more detailed than one used by a business.

---

Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.