The major drawback of using historical results for judging current performance is that inefficiencies may be concealed in the past performance.
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Q2: The effectiveness of any budgeting system depends
Q4: Budgeting may use nonfinancial terms.
Q5: Budgeted performance goals generally do not provide
Q6: Participative budgeting is the active participation of
Q8: Budgetary slack helps buffer managers from budget
Q9: Budgets are a manager's tool to plan,
Q10: Budgets tell employees what their superiors expect
Q11: Cheating does not include making short-run decisions
Q12: The sales budget is the responsibility of
Q47: Sales forecasts are usually prepared under the
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