A budget is a statement of a corporation's programs in dollar terms. Which is NOT True of the budgetary function?
A) It is used in planning and control.
B) It serves as a detailed plan of strategy in action.
C) Only one budget is necessary to capture all programs.
D) It details the impact on the firm's future financial situation.
E) It is used as a means of measuring success based on certain criteria.

Question

Quizplus · Accepted Answer

It is not true that only one budget is necessary to capture all programs. In reality, a corporation typically creates multiple budgets for different product lines, departments, or regions to accurately estimate their financial needs and allocate resources accordingly.

A Budget Is a Statement of a Corporation's Programs in Dollar