The five primary purposes of a budget are:

A) planning, allocating resources; facilitating communication and coordination; controlling profit and operations; evaluating performance and providing incentives.
B) planning; allocating resources; facilitating communication and coordination; controlling profit and operations; and allocating overhead costs.
C) planning; allocating resources; facilitating communication and coordination; controlling profit and operations; and evaluating competition.
D) planning; allocating resources; controlling profit and operations; providing incentives; evaluating performance; and allocating overhead costs.

Question

Mukhi Mitlesh · Accepted Answer

Final Answer : A, Explanation :  The five primary purposes of a budget are planning, allocating resources, facilitating communication and coordination, controlling profit and operations, and evaluating performance and providing incentives. Option A includes all of these purposes. Option B includes allocating overhead costs, which is not a primary purpose of a budget. Option C includes evaluating competition, which is not a primary purpose of a budget. Option D includes allocating overhead costs and providing incentives, which are not primary purposes of a budget.

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