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Question

Which among the following are the characteristics of a budget?

A Primarily a planning device and serves as a basis for performance evaluation and control Correct Answer Incorrect Answer
B Prepared only in money terms Correct Answer Incorrect Answer
C Can be Prepared for an indefinite future period Correct Answer Incorrect Answer
D All of the above Correct Answer Incorrect Answer
E A and B Correct Answer Incorrect Answer

Solution

Characteristics of Budget o   Primarily a planning device and serves as a basis for performance evaluation and control o   Prepared either in money terms r quantitative terms or both o   Prepared for a definite future period Purpose is to implement the policies formulated by management for attaining the objectives

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