Which of the following statements is true concerning budgeting?
A)Budgeting is a dynamic process that ties together goals,plans,decision making,and employee performance evaluation
B)Budgeting is required by generally accepted accounting principles.
C)Budgeting is a static process that ties together goals,plans,decision making,and employee performance evaluation
D)none of the above.

Question

Quizplus · Accepted Answer

Budgeting is a dynamic process that involves constantly reviewing and adjusting goals, plans, and decisions based on changing circumstances. It also includes evaluating employee performance based on how well they are able to meet budget goals. While budgeting is not necessarily required by generally accepted accounting principles, it is a common business practice that helps organizations plan and manage their resources effectively.

Which of the Following Statements Is True Concerning Budgeting