Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: A Budget Manual is a comprehensive organizational document that explicitly outlines the duties, responsibilities, and inter-departmental relationships of all executives involved in the budgeting process. Reason R: The primary function of a Budget Manual is to project estimated cash inflows and outflows to assist in determining liquidity requirements. In the light of the above statements, choose the correct answer from the options given below:

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Accounting · Management Accounting

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

A is correct but R is not correct

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Answer 1

A is not correct but R is correct

Answer 2

A is correct but R is not correct

Answer 3

Both A and R are correct but R is NOT the correct explanation of A

Answer 4

Both A and R are correct and R is the correct explanation of A

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