The purposes of a budget include:
A) planning.
B) facilitating communication and coordination.
C) controlling profit and operations, and evaluating performance and providing incentives.
D) All of the given answers

Question

Quizplus · Accepted Answer

All of the given answers are correct. Planning involves setting goals and making decisions about how to allocate resources to achieve those goals. Budgets facilitate communication and coordination by providing a framework for departments and individuals to work together towards common objectives. Budgets also play a role in controlling profit and operations by monitoring expenses and revenues and making adjustments when necessary. Lastly, budgets help evaluate performance and provide incentives for individuals and teams to meet or exceed their targets.

The Purposes of a Budget Include