Question

Budgetary control requires the preparation of

(a) Training schedule

(b) Budgets

(c) Network diagram

(d) Responsibility centres

Answer 1

Budgetary control technique of managerial control involves the preparation of budgets for each operation of the organisation and then comparing the realised results with the budgetary standards.

A budget is a quantitative statement defining the objectives to be achieved in a specified time period and the policies to be followed.