Objective setting and budgeting decisions must be formal and systematic.

Question

Quizplus · Accepted Answer

Objective setting and budgeting decisions require careful consideration and planning to ensure effective allocation of resources. A formal and systematic approach helps to ensure that all relevant factors are considered and that goals are clearly defined and achievable. Without such an approach, decisions may be inconsistent, biased, or based on incomplete information, leading to suboptimal outcomes.

Objective Setting and Budgeting Decisions Must Be Formal and Systematic