One of the major benefits of formal budgeting is the positive effect it can have

Question

One of the major benefits of formal budgeting is the positive effect it can have on employee attitudes applied correctly. True False Budgeting is an informal plan for future business activities. True False The process of evaluating performance can be improved by using budgets. True False Budget preparation is best determined in a top-down managerial approach. True False A rolling budget is a specific budget application relevant only to a merchandising company. True False The sequence of the budgets within the master budget are dictated by GAAP. True False

Explanation / Answer

Formal Budgeting is focused on employees and it can create a healthy working environment. Format budgets are prepared with talking care of employees capacity and efficiency. And hence it can create a positive attitude for employees.

Hence the statement given in True.

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