As the starting point in the budgeting process, managers need to understand the strategy of the organisation, to enable them to formulate a budget that supports the organisation's
A) mission statement.
B) strategic plan.
C) forecasts.
D) vision.

Question

Quizplus · Accepted Answer

The strategic plan outlines the organization's goals and objectives, and the budget should align with these goals and objectives. The mission statement and vision are also important, but they do not necessarily provide the detail needed to create a budget. Forecasts are helpful, but they are not the starting point for the budgeting process.

As the Starting Point in the Budgeting Process, Managers Need