ACC 556 STR help A Guide to career/uophelp.com ACC 556 STR help A Guide to career/uophelp.com | Page 42

Chapter 21 Quiz
Question 1
A benefit of budgeting is that it provides definite objectives for
evaluating performance.
Question 2
Effective budgeting requires clearly defined lines of authority and
responsibility.
Question 3
Financial budgets must be completed before the operating budgets can
be prepared.
Question 4
The budgeted income statement indicates the expected profitability of
operations for the next year
Question 5