Asked by Peyton Tippens on Jun 03, 2024
Verified
The person responsible for managing the budget process
A) is responsible for specifying the process by which budget data will be gathered.
B) collects information and prepares the annual financial budget.
C) communicates budget procedures and deadlines to employees throughout the organisation.
D) All of the given answers
Budget Procedures
Budget Procedures are systematic processes used by organizations to create a budget, involving estimating revenues, expenses, and allocating resources for various functions.
Financial Budget
A plan for an organization's financial resources, detailing income and expenditures over a certain period.
Budget Process
The procedure for creating a budget, including planning, review, approval, implementation, and evaluation of financial plans.
- Identify the responsibilities of the person managing the budget process.
Verified Answer
ZK
Zybrea KnightJun 03, 2024
Final Answer :
D
Explanation :
The person responsible for managing the budget process is responsible for each of the tasks listed in the given answer options. They must specify the process for gathering data, collect and prepare the budget, and communicate procedures and deadlines to employees throughout the organization. Therefore, the best choice is D.
Learning Objectives
- Identify the responsibilities of the person managing the budget process.