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    Question

    Which among the following are the characteristics of a budget?

    A Primarily a planning device and serves as a basis for performance evaluation and control Correct Answer Incorrect Answer
    B Prepared only in money terms Correct Answer Incorrect Answer
    C Can be Prepared for an indefinite future period Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer
    E A and B Correct Answer Incorrect Answer

    Solution

    Characteristics of Budget o   Primarily a planning device and serves as a basis for performance evaluation and control o   Prepared either in money terms r quantitative terms or both o   Prepared for a definite future period Purpose is to implement the policies formulated by management for attaining the objectives

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