characteristics of successful budgets include being: multiple choice well planned. realistic. flexible. clearly communicated. all of these choices are correct.

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04-11-2022
Business

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characteristics of successful budgets include being: multiple choice well planned. realistic. flexible. clearly communicated. all of these choices are correct.

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ArpitaK ArpitaK · Answer 1 · 2022-11-14T05:30:26-05:00

All of these choices are correct in the characteristics of successful budgets include being well planned. realistic. flexible. clearly communicated.

A budget needs to be well-planned, flexible, realistic, and clearly communicated in order to be effective. Essentially, the enterprise's short- and long-term strategies and goals should come first in a budget. The budget shouldn't merely aim to slightly modify the company's outcomes from the prior year. So that the budget may function as a potent guiding tool, it must incorporate important planning-related input.

The most effective budgets are adaptable. A flexible budget enables an organization to move forward with initiatives that are crucial to it strategically. A realistic budget, however, serves as a justification for not carrying out crucially vital strategic initiatives. The budget must precisely reflect what is projected to occur in order to be useful. The managers and staff who will be directly impacted by the budget will not support it.

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