It is best to set budget targets that are:Group of answer choicesalmost impossible to attain as that means that managers will try harder.easy to obtain.on the high side but fair.impossible to attain.

The most likely flaw in the participative style of budgeting is that:Group of answer choicesthere are no flaws in the participative style of budgeting.targets will be set too high.targets will be set too low.targets will not be set.

As a project manager setting a budget, you factor in unexpected costs that may arise during the project. What budgeting strategy does this refer to?1 pointSetting a baselineBottom-up approachLeveraging expertsAdding a buffer and reserves

Identify which of the following is NOT a good way for managers to use a budget.Managers can use budgets alone to estimate how well they perform over a period of timeManagers can consider how conditions might change and what steps they would takeManagers can examine relationships between their own operation and those of other departmentsMangers can set a target for themselves to achieve

Multiple Choice QuestionAll of the following are guidelines that should be followed for budgets to be a positive motivating force except:Multiple choice question.goals should be challenging but attainablebudgets should be prepared using a top-down approachevaluations offer opportunities to explain differences between actual and budgeted amountsemployees should help prepare the budget

A budget is:Group of answer choicesthe process relating to the longer term planning for a business.all of the options are true.a financial statement prepared for external users.a quantitative expression of an entity's future plans.