a. Cash in the most frequently budgeted asset.
b. Budgets always cover a 12 month period.
c. The cash budget is prepared using the accrual basis of accounting.
d. Budgets must be prepared using the Generally Accepted Accounting Practices.
e. Budgets are an integral part of a company’s external financial reports.

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Which of the following statements about budgeting is NOT ture?
A. Budgeting is an aid to planning and control
B. Budgets create standards for performance evaluation
C. Budgets help coordinate the activities of the entire organization
D. Budgeting forces managers to think ahead and formalize long-range objectives.
E. Budgeting eliminates the need for day-to-day monitoring of operation

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What is the best budgeting software for a personal budget & small business budgeting? I am looking to create budgets for both, my personal finances & a small business. Any constructive thoughts or advice would be highly appreciated. Thank you!

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