Which of the following is an example of the benchmarking function of a budget?
A)A budget demands integrated input from different business units and functions.
B)Budgeting requires close cooperation between accountants and operational personnel.
C)Budget figures are used to evaluate the performance of managers.
D)The budget outlines a specific course of action for the coming period.

Question

Quizplus · Accepted Answer

The benchmarking function of a budget involves using budget figures to evaluate the performance of managers and comparing it with industry benchmarks or best practices. Option A describes the coordination function, Option B describes the communication function, and Option D describes the planning function.

Which of the Following Is an Example of the Benchmarking