budgeting

fenil 23 April 2020 at 16:57 PM

Question  Certain phases of the planning process should be formalized for all of the following reasons
except:
A) Formalization provides a logical basis for rational flexibility and planning.
B) Informal plans and goals lack the necessary precision, understanding, and consistency.
C) Formal plans can act as a constraint on the decision-making freedom of managers and supervisors.
D) Formalization requires the establishment and observance of deadlines for decision-making and
     planning.
Answer Option  C

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FACULTY 18 May 2020 at 12:38 PM

Formal plans can act as a constraint on the decision-making freedom of managers and supervisors.(option C)

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MaxHolloway 21 April 2026 at 09:25 PM

When building a cash budget, it’s vital to account for high-volume operational costs that impact liquidity. Small businesses often leak cash on "miscellaneous supplies" by purchasing in small quantities. I’ve found that optimizing the procurement of consumables is a great case study for cost-control. For instance, sourcing essentials like dispenser napkins in bulk (8,000 count) significantly lowers the unit cost and makes monthly outflows more predictable: https://www.mcdonaldpaper.com/safepro-102-napkins-for-nh-7-tallfold-dispenser-8000-cs. It’s a simple way to minimize budget variance and improve cash flow forecasting accuracy.

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