Which of the following statements about budgeting is NOT true?

Question

Quizplus · Accepted Answer

This statement is not entirely true. While top management does play a role in setting overall objectives, mid-management personnel are also heavily involved in the budgeting process. In fact, budgeting often requires input from individuals at various levels in the organization to ensure that goals are realistic and attainable. Therefore, the operating budget should be prepared through collaborative effort between top and mid-management personnel.

Which of the Following Statements About Budgeting Is NOT True