In which order do the following steps in the budget setting process actually occur?
i)Co-ordinate the budget.
Ii)Identify the limiting factor.
Iii)Monitor performance relative to budget.

Question

In which order do the following steps in the budget setting process actually occur? 
i)Co-ordinate the budget.
Ii)Identify the limiting factor.
Iii)Monitor performance relative to budget.

Quizplus · Accepted Answer

In the budget setting process, identifying the limiting factor should be the first step as it helps to determine the maximum amount that can be spent on other items in the budget. Coordinating the budget comes next as all departments need to work together to ensure that the budget is realistic and achievable. Monitoring performance relative to budget is the final step as it is necessary to track progress and make adjustments as needed.

In Which Order Do the Following Steps in the Budget