The process of financial budgeting is useful only as a feedback tool.

Question

Quizplus · Accepted Answer

The process of financial budgeting is not just a feedback tool, it is also a planning and control tool that helps organizations set goals, allocate resources, and monitor performance. Budgeting allows organizations to forecast future financial needs, identify potential issues, and adjust plans accordingly. Therefore, budgeting is useful for both planning and feedback purposes.

The Process of Financial Budgeting Is Useful Only as a Feedback