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Financial & Managerial Accounting
Found in: Page 913
Financial & Managerial Accounting

Financial & Managerial Accounting

Book edition 7th
Author(s) John J Wild, Ken W. Shaw, Barbara Chiappetta
Pages 1096 pages
ISBN 9781259726705

Short Answer

For each of the following items 1 through 6, indicate yes if it describes a potential benefit of budgeting or no if it describes a potential negative outcome of budgeting.

6. Budgets can provide incentives for good performance.


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Step by Step Solution


Incentives are the type of compensation offered by the organization to its employees and their monthly salary for outstanding performance.


Suppose an employee is working towards a task, keeping in mind the budget and the availability of resources that lead to a good performance and benefit the firm immensely. In that case, the management provides incentives as a token of appreciation in monetary terms.

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