Which of the following is good advice for improving budgeting?
A) Remember that budgets are not tools.
B) Let budgets drive goals.
C) Coordinate budgeting throughout the organization.
D) Do not use budgeting planning software.
E) Remember that profits result from budgets.

Question

Quizplus · Accepted Answer

Coordinating budgeting throughout the organization ensures that everyone is on the same page and working towards the same goals. It also allows for better allocation of resources and avoids duplication of efforts. A) is incorrect because budgets are indeed tools for planning and managing finances. B) is not entirely accurate as goals should drive budgets, but budgets should also be flexible enough to adapt to changing goals. D) is not recommended as budget planning software can streamline the budgeting process and provide more accurate and detailed analyses. E) is a common misconception as budgets are a projection of future revenues and expenses, but profits depend on actual performance and not just budgeted amounts.

Which of the Following Is Good Advice for Improving Budgeting