Which of the following statements is true?
A)All organizations have the same set of budgets.
B)All organizations are required to budget.
C)Budgets are a quantitative expression of an organization's goals and objectives.
D)Budgets should never be used to evaluate performance.

Question

Quizplus · Accepted Answer

Budgets are tailored to the specific goals and objectives of an organization and therefore are not the same for all organizations. While it is common practice for organizations to budget, it is not a universal requirement. Budgets are quantitative expressions of an organization's goals and objectives and are an important tool used for evaluating performance, among other functions.

Which of the Following Statements Is True