Author Question: Which of the following is referred to as the bottom-up aspect of the budgeting process? A) ... (Read 111 times)

bobbysung · **on:** Jul 5, 2018

Which of the following is referred to as the bottom-up aspect of the budgeting process?

A) lower-level managers setting their individual targets that aggregate to be the company-wide target
B) senior managers consulting middle- and lower-level managers to investigate any deviations from the budget
C) lower-level managers implementing the budgets with senior managers monitoring progress and investigating deviations
D) lower-level managers providing inputs to the budgeting process based on their specialized knowledge

Question 2

On which financial statement will Income Summary be shown?
a. statement of owner's equity
b. balance sheet
c. income statement
d. no financial statement