In many companies, who is assigned the responsibility for coordinating the preparation of the budget?
A)a budget committee
B)the sales managers since the sales budget is the backbone of the master budget
C)the company's board of directors since they approve major corporate changes
D)the company's independent certified general accountants

Question

Quizplus · Accepted Answer

In many companies, a budget committee is assigned the responsibility for coordinating the preparation of the budget. This committee may include representatives from different departments and levels of the organization to ensure that all aspects of the budget are considered and integrated into the master budget. While sales managers may be involved in preparing the sales budget, they typically do not have overall responsibility for coordinating the entire budget process. The board of directors may approve the final budget, but they are not typically involved in its preparation. Independent certified general accountants may provide advice and assistance, but they do not usually have the primary responsibility for coordinating the budget process.

In Many Companies, Who Is Assigned the Responsibility for Coordinating