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Which of the following statements regarding budgets is false?
Suggested Answer: B
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Budget formulation is a planning function; however, budgets are also useful control devices. Budget provide a basis for control of performance through comparisons of actual with budgeted data. They permit analysis of variations from plans and signal the need for corrective managerial action.
22 comments · newest first
SH
Shalon
9 months ago
I thought budgets were just for cash flow, not labor too!
TY
Tyra
10 months ago
A budgets present plans formally, that's true.
EL
Elin
10 months ago
I agree, B is the false one!
AL
Alesia
10 months ago
Wait, are you saying budgets are only for planning? That seems off.
GL
Glynda
11 months ago
Budgets are definitely more than just planning tools.
LI
Lizbeth
11 months ago
I’m a bit confused about option C. I thought budgets were mostly about financial aspects, but I guess they can also relate to labor usage? Not sure if that makes it false though.
KI
Kimi
11 months ago
I practiced a question similar to this, and I think all the other options sound correct. Budgets definitely help in presenting plans and can be quantitative.
FE
Felicia
11 months ago
I’m not entirely sure, but I feel like budgets can be used for various purposes, not just planning. I might lean towards option B being incorrect.
ST
Stevie
11 months ago
I think I remember that budgets are more than just planning tools; they also help with control and performance evaluation. So, maybe option B is the false one?
CH
Cheryl
12 months ago
This is a tricky one. Budgets can be used for all sorts of planning, not just cash flows and labor. I think I know which statement is false, but I'll double-check my work.
MA
Marci
12 months ago
Okay, I've got a strategy here. I'll start by identifying the true statements, then the one that's left must be the false one. Gotta love process of elimination!
DO
Dominic
12 months ago
Hmm, I'm a bit unsure about this one. The statements seem pretty similar, so I'll have to read them closely to spot the false one.
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Shawnda
1 year ago
This seems like a straightforward question about the nature of budgets. I'll carefully review each statement and think about which one is false.
GR
Gracia
1 year ago
D seems to be the correct answer. A budget is a quantitative plan for the future.
LA
Lavera
9 months ago
D sounds right, but I see why some might choose B.
MA
Maia
9 months ago
I agree with King. Budgets help in controlling too.
KI
King
10 months ago
I think B is the false one. Budgets are used for more than just planning.
DE
Desirae
10 months ago
C is interesting. I never thought of budgets for labor usage.
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Lili
1 year ago
I think option B is false. Budgets are used for both planning and control functions.
NY
Nydia
1 year ago
D) A budget is a plan that contains a quantitative statement of expected results.
AN
Antione
1 year ago
C) Budgets may be developed for cash lows or labor usage.
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Stanton
1 year ago
A) Budgets present organizational plans in a formal, logical, and integrated manner.