Formulating guidelines for overall activity levels and policies on performance criteria, and communicating this information to the preparers of budgets, are all part of the budget process.

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Quizplus · Accepted Answer

This statement is true. Setting activity levels and performance criteria is an important part of the budgeting process, and communicating this information to budget preparers helps ensure that budgets are aligned with organizational goals and objectives.

Formulating Guidelines for Overall Activity Levels and Policies on Performance