Answer-Which of the following is not correct about budgeting?

Budgeting is a plan for future. a properly prepared budget allows management to follow the management-by-exception principle by devoting attention to results that deviate significantly from planned levels. Snapshot from study notes of the ixamBee SEBI course covering topic in detail and discussed in classes

Question

Which of the following is not correct about

budgeting?

A Budgeting is a plan of action based on past performance and governed by rational judgment of factors that will influence the course of business in future.

B For budgeting the organisational structure must be clearly defined and responsibility should be assigned to identifiable units within the organisation

C Budgeting does not facilitate in management by exception

D Budgeting is quantifiable in monetary or quantity or both terms

E All are correct

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Solution