All of the following are reasons for the importance of forecasting and budgeting,EXCEPT:
A) requires the organization to think about what is happening in the markets
B) sets specific strategic objectives for the various divisions and departments within the organization
C) sets specific operational parameters for the various divisions and departments within the organization
D) requires managers to make decisions related to resource allocation, when measured against specific outcomes
E) become benchmarks/targets against which actual results can be measured

Question

Quizplus · Accepted Answer

Forecasting and budgeting are primarily about planning and resource allocation, not setting strategic objectives, which are broader and more long-term goals.

All of the Following Are Reasons for the Importance of Forecasting