Question

Place these stages in the budget cycle in the order in which they normally occur. a....

Place these stages in the budget cycle in the order in which they normally occur.

a. Agency request, executive consideration, legislative consideration, audit, service delivery.

b. Executive consideration, agency request, legislative consideration, service delivery, audit.

c. Executive consideration, agency request, legislative consideration, audit, service delivery.

d. Agency request, executive consideration, legislative consideration, service delivery, audit.

Business   Accounting   
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Answer #1

Solution. The correct answer is option d

Explanation: An organization needs to prepare budget for decision making purposes to plan and control different activities during an accounting period to meet objectives effectively and efficiently. For the given question, the stages in the order of budget cycle normally is- agency request, executive consideration, legislative consideration, service delivery, audit. Other options hold false as the process encompasses preparation and approbation phases to following audit considerations to provide opinion on financial statement and position.

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