Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 1 - Appendix 1A: Corporate Governance - Questions - Page 26: 1A-10

Answer

Annual budget can be used as a form for controlling and monitoring the business activities.

Work Step by Step

The management can use the annual budget as a standard. The actual results can be compared with the budgeted and analyze the variances. If there are significant variations, the management can bring corrective measures.
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