Which of the following statements about budgeting is false?
A)Budgeting is an aid to planning and control.
B)Budgets create standards for performance evaluation.
C)Budgets help coordinate the activities of the entire organization.
D)Budgeting forces managers to think ahead and formalize long-range objectives.
E)The master budget should only be prepared by top management.

Question

Quizplus · Accepted Answer

The master budget is typically a collaborative effort involving various levels of management, not just top management.

Which of the Following Statements About Budgeting Is False