A participatory budget is developed by both top management and operating personnel

MULTIPLE CHOICE1.A budget aids in

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2.Measuring the firm's performance against established objectives is part of which of the followingfunctions?

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3.The preparation of an organization's budgeta.forces management to look ahead and try to see the future of the organization.b.requires that the entire management team work together to make and carry out the yearlyplan.c.makes performance review possible at all levels of management.d.all of the above.ANS: D

4.Which of the following is a basic element of effective budgetary control?

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5.When actual performance varies from the budgeted performance, managers will be more likely torevise future budgets if the variances were

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6.External factors that cause the achievement of company goals are the

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