A budget is a statement of a corporation's programs in dollar terms.Which is NOT true of the budgetary function?
A)It is used in planning and control.
B)It serves as a detailed plan of strategy in action.
C)Only one budget is necessary to capture all programs.
D)It details the impact on the firm's future financial situation.
E)It is used as a means of measuring success based on a certain criteria.

Question

Quizplus · Accepted Answer

This statement is false. Typically, multiple budgets are necessary to capture all programs and functions within a corporation. Each department and program may have its own budget to ensure accuracy and specificity in planning and control.

A Budget Is a Statement of a Corporation's Programs in Dollar