Question

What is the definition of Budgetary Control, according to the Institute of Cost and Management Accountants (CIMA)?

a.

The preparation of budget estimates

b.

The establishment of budgets with no relation to policy

c.

The continuous comparison of actual with budgeted results

d.

The comparison of budgetary objectives with corporate goals

Answer: (c).The continuous comparison of actual with budgeted results Explanation:Budgetary Control, as defined by CIMA, involves the continuous comparison of actual with budgeted results to secure the objectives of a policy.

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Q. What is the definition of Budgetary Control, according to the Institute of Cost and Management Accountants (CIMA)?

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