hy is it important to comply with ethical provisions and be transparent in budgeting?

Q: Managers should be closely involved in preparing their responsibility accounting budget. How true is…

A: Generally, managers should be involved in preparing their responsibility accounting budget.

Q: Many accountants believe that the most important benefit of the master budgeting process is the…

A: Master budget: The master budget is the core budget that describes the full process of budget. This…

Q: Discuss the factors that are likely to cause managers to submit budget estimates of sales and costs…

A: Budgetary slack:   Creating an extra gap in the budget is known as budgetary slack which refers to…

Q: Which provides the most benefit to an organization, a budget or the budgeting process? Why?

A: Budget: A budget is a systematic allocation of resources to different departments depending on the…

Q: Which one of the following best describes the role of top management in budgeting process? Top…

A: Role of top-level management in the budgeting process - - management must make that all the levels…

Q: Explained how the company's budgetary control system could be revised to improve its effectiveness.

A: The company is work on the budget to be initially made with a view to follow the pattern…

Q: Which of the following statements is false? Select one: a. According to responsibility accounting,…

A: The appropriate statements are chosen as per their accuracy and correctness.

Q: When developing a budget, an EXTERNAL factor to consider in the planning process is - Group of…

A: While planning process, both the internal and external factors are taken into consideration.…

Q: 1.) Why is it necessary to determine and confirm scope and nature of budgetary planning activity…

A: answer It is necessary to determine and confirm scope and nature of budgetary planning activity with…

Q: 5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate…

A: Budgets are compiled at least annually by most companies in order to plan their operations for the…

Q: What are the benefits of budgeting?

A: Budgeting is the process of designing, implementing, and operating budgets. It is the managerial…

Q: Which among the following is not an element of budgeting? a. Budgeting should state the firm’s…

A: Budgets are prepared on weekly, monthly, or yearly basis to make plans for the future which needs to…

Q: There are a number of benefits associated with budgeting. Which of the following is not frequently…

A: Budgeting refers to the process of estimation of revenues and expenses for an entity over a specific…

Q: What is the role of the Office of Management and Budget OMB?

A: Office of the Management and the Budget (OMB):   This is the office which is part of the Executive…

Q: . Why is it important to provide relevant colleagues with adequate notice of the opportunity to…

A: Answer: It is important to provide relevant colleagues with adequate notice of the opportunity to…

Q: For the purpose of effective budgetary control, it is imperative on the part of each entity to have…

A: Budget is a statement which reflects Future inflow as well as outflow of cash for a particular…

Q: t is a document which defines the objectives of budgetary control system. It spells out the duties…

A: The above paragraph defines and explains a document which sets out the whole plan of the budgetary…

Q: It is important for institutions to budget and to further have feedback by receiving regular…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: Explain the concept of control and budgetary control

A: SOLUTION- CONCEPT OF CONTROL- IT IS ONE OF THE IMPORTANT FUNCTION OF MANAGER . IN ORDER TO SEEK…

Q: Why do the authors suggest that a thorough review of the firm’s chart of accounts, account…

A: The entire budgeting and planning exercise involves careful review and analysis of the revenues and…

Q: how will the skills and knowledege in constructing cash budget be applicable on the job of…

A:

Q: how can I apply MIS ( management information system ) successfully in this topic: A PERSONAL…

A: Management accounting is the act of distinguishing, estimating, investigating, deciphering, and…

Q: 1. The organizational process of budgeting performs several important functions. Which is true? A.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: When the budgeting process is communicated according to corporate policy, the employees involved are…

A: The process of preparing budgets is known as the budgeting process. A budget is basically a…

Q: A budget represents a target and aiming towards a target can be a powerful motivator. However,…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following is not the direct benefit of the budgeting process?   Identification of…

A: The process of budgeting involves the estimation of the costs and revenues of the entity for future…

Q: 1. Explain the concept of responsibility accounting and its relation with budgeting.

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: how budgeting is useful in managing businesses?

A: Budget: The forecast of transactions on the basis of the available resources for a particular period…

Q: Which of the following is NOT an objective of the budgeting process? O a. To communicate…

A: Please see the next step for the solution

Q: what is contemporary organization and would you recommend budgeting for contemporary organisations…

A: Contemporary organization It is a type of organizational structure that is fluid and it is easy to…

Q: How does budgeting help management coordinate and plan business activities?

A:

Q: ​_______ can be defined as compelling events to go according to plan.   A. Budgeting   B. Management…

A: Compelling events are events that forces to take some decision.

Q: Which of the following statements relating to budgeting is NOT true? a) A budget is a formal…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: Budgeting is essential to businesses, but it is not that simple to implement. What are some…

A: Introduction: Budgeting is thought to be the purchase of important financial decisions that aid in…

Q: Why is it important to have a fair, balance criteria in making budge

A: Budgeting model is the model which establish the budget for business where it match the actual…

Q: 1. How does budgeting provide important information to managers and operating personnel?

A: Budget is like preparing plan for the future process and it includes how efficiently sources or…

Q: Which of the following budgeting processes is LEAST likely to motivate managers toward…

A: Budget Process: The budget process assists the management by determining standards for the…

Q: Which of the following best describes the role of top management in the budgeting process? Should…

A: Correct option is 3.Should be enthusiastic and committed to the budget process

Q: Which of the following is true in a bottom-up budgeting approach?   a.Supervisors tell departments…

A: Management adapts the current year's budget to suit future objectives, making changes as needed.…

Q: Budgeting is the same across different organisations and industries, so organisational strategy,…

A: Budgeting are estimated standards set which acts like an yardstick for respective departments…

Q: (3) Explain the ethical considerations as it relates to using budgets as a basis for rewarding…

A: 3)   Using budgets as a basis for rewarding managers can lead to conflict of interest. The managers,…

Q: Which of the following is not an advantage of participative budgeting?a. It encourages budgetary…

A: Participatory budgeting involves lower-level management personnel in the creation of the budget.…

Q: 5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate…

A: Budgeting: Budgeting is that the method of making a plan to pay your cash.  Benefits of Budgeting…

Q: What are the difficulties that might face by management accountant in budgeting process?

A: The budgeting process is used in financial planning which includes setting goals and gathering data…