The responsibility for coordinating the preparation of a master budget should be assigned to the CEO of a firm.

Question

Quizplus · Accepted Answer

While the CEO may be ultimately responsible for the overall financial performance of a firm, the responsibility for coordinating the preparation of a master budget should be assigned to the financial controller or CFO, as they have the necessary expertise and knowledge to gather and analyze financial data. The CEO may provide guidance and oversight, but the day-to-day coordination and implementation of the budget process should be the responsibility of the financial team.

The Responsibility for Coordinating the Preparation of a Master Budget