Question

Advantages of budgeting include ______. Multiple select question. providing benchmarks for evaluating performance forcing managers to think about and plan for the future promoting cooperation and coordination among different areas within the organization providing each department with the same amount of money to spend, so all are treated fairly providing lead time to solve potential problems

Answer 1

Advantages that can be associated with Budgeting are:

forcing managers to think about and plan for the future

- promoting cooperation and coordination among different areas within the organization

- providing benchmarks for evaluating performance

- providing lead time to solve potential problems.

• Budgeting can be regarded as a process involving a creation of a plan to spend your money.

• It helps the manager think about the future in terms of our finance and give a benchmarks for evaluating performance.

Therefore, Budgeting helps in how to spend our money.

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