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Which of the following statements are true about budget, budgeting & budgetary control?

A. Budgeting is business estimates for future periods

B. Budget is the process of preparing business estimates

C. Budgetary control is the means to achieve performance on the basis of budget

D. None of the above

Related Questions on Management Accounting Test Questions

Time value of money indicates that

A. A unit of money obtained today is worth more than a unit of money obtained in future

B. A unit of money obtained today is worth less than a unit of money obtained in future

C. There is no difference in the value of money obtained today and tomorrow

D. None of the above