Question

________________enables laying down targets and standard in monetary and quantitative terms, what exactly has to be performed by various budget centre or profit centre.

a.

Forecast system

b.

Organisational system

c.

Budgetary control system

d.

Decentralisation system

Posted under IC 89 Management Accounting

Answer: (c).Budgetary control system Explanation:The statement describes a system that enables laying down targets and standards in monetary and quantitative terms for various budget centers or profit centers. This aligns with the characteristics of a budgetary control system, which involves setting specific targets, comparing actual performance against these targets, and taking corrective actions to achieve organizational objectives. The other options, such as the forecast system, organizational system, and decentralization system, do not specifically address the laying down of targets and standards as described in the statement.

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Q. ________________enables laying down targets and standard in monetary and quantitative terms, what exactly has to be performed by various budget centre or profit centre.
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