Which of the following budgeting processes is LEAST likely to motivate managers toward organizational goals?a. setting budget targets at attainable levelsb. participation by subordinates in the budgetary processc. use of management by exceptiond. holding subordinates accountable for the items they controle. having top management set budget levels

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: Identify at least three benefits of budgeting in helping managers plan and control a business.

A: Budgeting in a business has benefits and consequences that go beyond the financial dimension and…

Q: How can budgeting assist a company in planning its workforce staffing levels?

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: Master budget is compiled of several operating budgets. Of these operating budgets, which budget…

A: the operating budget is such a statement that present the financial plan for each of the…

Q: When an organization involves its many employees in the budgeting process in a meaningful way, the…

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

Q: Which of the following statement(s) related to budgets is/are TRUE? O In preparing a master budget,…

A: A budget is prepared with a view to estimate the revenues and expenses of the firm over a particular…

Q: What are the benefits of budgeting?

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

Q: Which of the following statements is incorrect? * O An imposed budget is the same as a participative…

A: Answer: Budget is the statement that is prepared for revenue and expenses as an estimation made by…

Q: Explain what you understand by Budgets, Fixed budgets and Flexible budgets in the context of control…

A: Organizations produce budgets for a variety of purposes, including cost control, performance…

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: a. Describe a budget development coordination and approval process. Response could include the…

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: The first step of the budget process is: plan direct control feedback Static budget are often used…

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

Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…

A: Organizations produce budgets for a variety of purposes, including cost control, performance…

Q: Explain what you understand by Budgets, Fixed Budgets and Flexible Budgets in the context of control…

A: Companies prepare budgets for various reasons such as controlling costs, evaluating performance, or…

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

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

Q: How are standards used by management in evaluating organizational units, as to their budgetary…

A: A budget refers to the financial plan that is used by managers in order to estimate revenues and…

Q: The best that describes the top management's role in budgeting process is that top managemen 1.…

A: The budget is prepared to estimate the requirements for the future period. The budget is prepared…

Q: Analyze the nature and purpose of budgeting, the stages involved in the preparation of budgets,…

A: Budgeting is a process of making a plan to spend money. The spending plan is called budget. It helps…

Q: What are the major objectives of budgeting? Briefly describe the type of human behavior problems…

A: 1. Objectives of budgeting: Anticipation of future financial condition and future needs for funds…

Q: When would a static budget be effective in evaluating a manager performance

A: We know that budgeting is a planning tool through with entities define a predefined target for…

Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: The purpose or motive of budgeting in business management has three aspects: Forecasting the…

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

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

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: ​_______ 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: Do you agree with this statement? Explain why or why not

A: Budgeting is the technique which is applied and made by each organization and any business more…

Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: Explain what responsibility accounting is and how budgets are used in responsibility accounting. How…

A: Responsibility accounting: Responsibility accounting includes accounting and forecasting. It assists…

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: Why does a company's budget need to be closely linked to the needs of good strategy execution? Why…

A: Because insufficient cash and other forms of resources hamper development and inhibit organisational…

Q: Should a manager blame his subordinates if a budget target is not achieved? Explain briefly! Give a…

A: Answer: Budget target is the statement which includes the target that is maintained as part of…

Q: Why is a clear understanding of management’s goals and objectives necessary for effective budgets?

A: Budgeting is a process of planning future expenses and income so that an organization ensure the…

Q: Development of Budget

A: Budget is prepared to make projections of income and expenses of an entity at the discretion of…

Q: Which of the following is NOT true of the budgeting process?   Question 8 options:   Budgeting…

A: Solution Concept Budgeting process is the process of estimating the income and expenditure of the…

Q: An internal report that helps management compare actual performance and budgeted performance based…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: How do budgeted cost rates motivate the support-department manager to improve efficiency?

A:

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: 1. Which of the following is true? a) The direct materials purchase budget is determined from the…

A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: often an arduous process, however, and often strikes dread in the hearts of those involved in budget…

A: A management control system (MCS) is a system that collects and uses information to assess the…

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…

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.