Accounting · Management Accounting
Which of the following statements about budgeting within an organization is NOT correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The fundamental purposes of establishing a budget include planning, controlling, coordinating, and motivating.
- 2A principal budget factor is a constraint or limiting factor that restricts the organization's activities during a specific budget period.
- 3Budgets are exclusively tools for short-term daily financial planning and have no role in long-term strategic alignment.✓
- 4A budget manual typically includes an organization chart, a budget timetable, and copies of standardized budget forms.
Correct answer
Budgets are exclusively tools for short-term daily financial planning and have no role in long-term strategic alignment.
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