All of the following ane true statements about the role of budgets and budgeting

Question

All of the following ane true statements about the role of budgets and budgeting EXCEPT hat A) a budget is a quantitative summary of the expected llocations and financial consequences of the organization's short-term operating activities budgeting solves most business challenges because it coordinates activities and communicates the organization's short-term goals to its members B) the difference between actual results and the budget plan are called variances budgeting indudes the process of estimating money inflows and outflows to determine a finandal plan that will meet an organization's objectives Previous Bookmark Summa Subm

Explanation / Answer

Correct answer is A.

The quantitative summary of expected alloccation is not a part of budgeting. The financial consequences of the organisations' short term operating activities is the part of the reporting and budgeting deals only with the planning and comparing actuals with the standards

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