9) Which of the following statements is true of budgets?
ADiff: 2Objective: 1AACSB: Analytical thinking10) The preparation of all the budgets in the master budget forces managers to think abouttheir business operations and to formulate plans, while:
BDiff: 2Objective: 1AACSB: Analytical thinking11) A budget is the quantitative expression of a proposed plan of action by management fora specified period.
Diff: 1Objective: 1AACSB: Analytical thinking12) A budget generally includes only the financial aspects of management's plan.
Diff: 1Objective: 1AACSB: Analytical thinking13) The benefit of engaging lower level management in the budget preparation process is that it helps to streamline the budget process.
Diff: 1Objective: 1AACSB: Analytical thinking