Question

What is the responsibility of the budget officer regarding deviations or variances?

a.

Determining deviations/variances

b.

Ascertaining causes of deviations/variances and informing the same to the appropriate authority/budget committee

c.

Only bringing to the attention of the budget committee the need for the revision of the budget

d.

Only compiling information about actual performance

Posted under IC 89 Management Accounting

Answer: (b).Ascertaining causes of deviations/variances and informing the same to the appropriate authority/budget committee Explanation:A budget officer is responsible for ascertaining causes of deviations/variances and informing the same to the appropriate authority/budget committee.

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