Describe three benefits budgeting provides to an organization's success
Budgeting is advantageous for organizations, because of the following reasons:
1. Budgets foster organizational communication.
2. Budgets ensure a focus both on future events and on resolving day-to-day issues.
3. Budgets assign resources and the responsibility to use them wisely to managers who are held accountable for their results.
4. Budgets can identify potential constraints before they become problems.
5. Budgets facilitate congruence between organizational and personal goals.
6. Budgets define organizational goals and objectives numerically, against which actual performance results can be evaluated.
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Adam remembered the advertising for John Deere lawn tractors because in one ad the person driving the tractor was a female wearing an attractive bikini, in another it was of a mother with two kids playing in a yard, and in a third of a man in a
business suit. In this example, Adams' recall of the ad and encoding of the John Deere name into his cognitive map was enhanced by the concept of: A) identifiable selling point B) campaign duration C) variability theory D) source credibility
In a nondirective interview, the interviewer always asks questions from an established set of questions.
Answer the following statement true (T) or false (F)
What is the primary role of the court system for the auditing profession?
a. To act as a quality-control mechanism. b. To provide guidance on unclear legislation. c. To punish audit firms that issue the wrong audit report. d. To express opinions on the fairness of accounting principles.
Net cash flow could be used to measure performance in
a. cost centers and investment centers. b. revenue centers and profit centers. c. revenue centers and investment centers. d. profit and investment centers.