Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Ineffective budget control systems are characterized by?

A- Lack of timily feedback in the use of the budget.

B- Use of budget for harrasment for individuals rather than motivation.

C- Use of budgets as of planning but not for controling tool. 

D- All of the above.

user-image
Question added by Mobeen Tahir , Credit Officer , Tawuniya Insurance
Date Posted: 2015/02/26
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Answer option >>>>>>>>>>>>>>>>>>  D- All of the above.

D.  All of the above.........................

Md. Moshiur Rahman Sumon
by Md. Moshiur Rahman Sumon , Assistant General Manager( Corporate Finance & Head of Internal Audit) , Progressive Life Insurance Company Limited

C- Use of budget as of planning but not for controlling tool..........is correct answer.

Nileshkumar Lodha
by Nileshkumar Lodha , Financial Controller , Silver Company Limited

Answer : Option A, since if there is no timely feedback, the data becomes irrelevant. and actuals cannot be compared with Budgeted figures, to take corrective action.

More Questions Like This