Question

Which is not a responsibility of the budget committee?

Providing central guidance



Preparation and development of department budgets



Providing continued communication of the budget to the organization



Rejecting department budgets that do not reflect realistic amounts

Answer 1

Answer:

b) preparation and development of department budgets

Answer 2

Answer:

Preparation and development of department budgets is not a responsibility of the budget committee.

Explanation:

Responsibility of budget committee

1. Determine the general policy and purpose of the company.

2. Receive and review individual budget quotes for different departments / units / departments.

3. Propose changes and corrections according to your organization's goals.

4. Approve the budget that serves as the authority / goal of the department's actions.

5. Receiving and analyzing performance reports on budget execution.

6. Propose corrective actions to improve efficiency and achieve budget targets.

So based on this we can say that budget committee accepts the department budgets but doesn't prepare them.

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