Homework Help: accounting

Posted by zd on Tuesday, March 30, 2010 at 5:02pm.

Select the incorrect statement about budgeting committees.

A)Budgeting committees usually have responsibility for the coordination of budgeting activities.
B) Membership on the budgeting committee is restricted most often to accountants because the budget involves numbers.
C) The budgeting committee is responsible for settling disputes between various departments over budget matters.
D) One of the responsibilities of the budget committee is to monitor the organization's progress toward achieving its budget standards.

accounting - Ali, Sunday, April 22, 2012 at 8:31pm
B) Membership on the budgeting committee is restricted most often to accountants because the budget involves numbers.

Master budget preparation is normally supervised by a committee. The budget committee is responsible for settling disputes among various departments over budget matters. The committee also monitors reports on how various segments are progressing toward achieving their budget goals. The budget committee is not an accounting committee. It is a high-level committee that normally includes the company president, vice presidents of marketing, purchasing, production, and finance, and the controller.
Source: Survey of Accounting 3rd edition

Answer this Question

Related Questions

American Government - Committees made up of members from both the House of ...
Budgeting your money - After two months of following her budget, lisa finds ...
budgeting your money - Which of the following items should be martis top ...
Cash Budgeting Question - Cash Budgeting – Helen Bowers, owner of Helen&#...
finanace - Budgeting Concepts Paper (10 points). Prepare a 1,050-1,750-word ...
marketing - Budgeting Concepts Paper (10 points). Prepare a 1,050-1,750-word ...
Accounting - Capital budgeting emphasizes the key role management has in value ...
accounting - How does budgeting affect the accrual basis accounting?
human services - A budget systems model is the foundation from which budgeting ...
International Business - What are the elements of Capital Budgeting? How do you ...

For Further Reading

First Name:
School Subject:
Answer: