Which of the following is NOT a benefit of budgeting. (Select all the answers that apply) Group of answer choices The budget provided the foundation for preparing financial statements included in the 10K report to the SEC. Requires all levels of management to plan ahead Facilitates coordination of activities within the business It motivates personnel throughout organization to meet planned objectives Provides definite objectives for evaluating performance

The foundation for preparing financial statements is not budgeting but accounting. Financial statements such as a balance sheet or an income statement are reports that must be according to generally accepted accounting principles Accounting helps to prepare a budget or management plan providing financial data.

adefioyelaoye adefioyelaoye · Answer 2 · 2022-04-08T11:14:04+02:00

The budget providing the foundation for preparing financial statements included in the 10K report to the SEC is not a benefit.

What is a Budget?

This is defined as a spending plan based on income and expenses. It helps to meet the required objectives for the year.

It is however not foundation for preparing financial statements included in the 10K report to the SEC thereby making option A the most appropriate choice.

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