A budget may be used as a planning tool, but not as a control tool.

Name: A budget may be used as a planning tool, but not as a control tool.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A budget can be used both as a planning tool and a control tool. It helps in setting targets and tracking progress towards achieving those targets. By comparing actual results with the budgeted figures, one can take corrective actions to control expenses or increase revenues.

A Budget May Be Used as a Planning Tool, but Not