accounting

posted by .

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 -

    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

  • accounting -

    qer

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Cash Budgeting Question

    Cash Budgeting – Helen Bowers, owner of Helen’s Fashion Designs, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for the firm for parts of 2006 and 2007: May 2006 $180,000 …
  2. International Business

    What are the elements of Capital Budgeting?
  3. marketing

    Budgeting Concepts Paper (10 points). Prepare a 1,050-1,750-word paper in which you compare and contrast two types of operating budgeting concepts. For example, activity-based costing, zero based, line item, management by objectives, …
  4. finanace

    Budgeting Concepts Paper (10 points). Prepare a 1,050-1,750-word paper in which you compare and contrast two types of operating budgeting concepts. For example, activity-based costing, zero based, line item, management by objectives, …
  5. Budgeting your money

    After two months of following her budget, lisa finds that her food bills are much higher then she expected. Select her best option from those offered below. A : She should scrap her present budget and start all over again. B. It is …
  6. budgeting your money

    Which of the following items should be martis top priority in budgeting her disposable income?
  7. human services

    A budget systems model is the foundation from which budgeting systems can be used to evaluate the success of an agency or company. How are performance budgeting systems used to evaluate the efficiency and effectiveness of a human service …
  8. budget

    budgeting should begin with
  9. budgeting money

    Budgeting should begin with
  10. financial management

    Post your response to these questions: A budget systems model is the foundation from which budgeting systems can be used to evaluate the success of an agency or company. How are performance budgeting systems used to evaluate the efficiency …

More Similar Questions