Question

Which of the following is not a criticism of the traditional annual budget? Group of answer...

Which of the following is not a criticism of the traditional annual budget?

Group of answer choices

Budgeting is too focused on the future

A lack of flexibility in budgets does not fit with an operating environment that changes frequently

Budgeting may eliminate drive for continuous improvement

Budgeting can be time consuming and not worth the cost

The use of budgets involves trade offs that management would need to make

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Answer #1

The correct answer to this question will be option (e) The use of budgets involves trade offs that management would need to make. It is because during budget preparation, trade-offs and prioritization among programs must be made to ensure that the budget fits company's policies and priorities. It helps to ensure that the company is in line with it's objectives and does not deviate from it. The management has the duty to ensure that it achieves the target with the trade off between the various resources to be used by the company so that the most efficient method is taken up.

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