Which of the following is an advantage of the budgeting process?

Question

Quizplus · Accepted Answer

The budgeting process helps to coordinate the activities of the organization by setting clear goals, priorities, and expectations. This ensures that everyone in the organization is working towards the same objectives and helps to avoid duplication of effort, conflicts, and unnecessary expenses. While the budgeting process can contribute to achieving the company's objectives and improving profitability, it cannot guarantee them as other factors such as market conditions, competition, and internal capabilities also play important roles. Also, the budgeting process may not always result in the lowest cost materials being obtained as other factors such as quality, availability, and supplier relationships may also be considered.

Which of the Following Is an Advantage of the Budgeting