Which of the following is an advantage of the budgeting process?
A) It requires very little input from various departmental managers, leaving them more time to devote to day-to-day activities.
B) It can define specific goals and objectives that may be used in evaluating future job performance.
C) It forces management to focus on the past and not be distracted by the day-to-day operations of the business.
D) It requires no communication between various managers in the organization.

Question

Quizplus · Accepted Answer

Budgeting helps in setting specific goals and objectives that can be used to evaluate job performance in the future. This allows for better management of resources and can lead to greater accountability and efficiency in the organization. Option A is incorrect because the budgeting process requires input from various departmental managers. Option C is incorrect because budgeting helps management to focus on the future, not the past. Option D is incorrect because effective communication between managers is essential for the success of the budgeting process.

Which of the Following Is an Advantage of the Budgeting