Question : Assertion: A budget is a statement of future income and expenses.

Reason: Budgeting is not related to financial forecasting.

Option 1:

Both assertion and reason are correct, and the reason is a correct explanation.

 

Option 2: Both assertion and reason are correct, and the reason is not correct explanation.  

Option 3: Assertion is false, but the reason is correct.

     

Option 4: Assertion is correct, but the reason is false.

Question : Assertion: Budgeting involves forecasting future financial performance.

Reason: Budgeting is limited to the allocation of resources.

Option 1:

Both assertion and reason are correct, and the reason is a correct explanation.

Option 2: Both assertion and reason are correct, and the reason is not correct explanation.  

Option 3: Assertion is false, but the reason is correct.

Option 4: Assertion is correct, but the reason is false.

Question : Assertion: Budgeting helps in controlling expenditures.

Reason: Budgeting does not involve any control measures.

Option 1:

Both assertion and reason are correct, and the reason is a correct explanation.

Option 2: Both assertion and reason are correct, and the reason is not correct explanation.

Option 3: Assertion is false, but the reason is correct.

Option 4: Assertion is correct, but the reason is false.

Question : Assertion: Budgeting is not an ongoing process in an organization.

Reason: Budgets are prepared only once at the beginning of a financial year.

Option 1:

Both assertion and reason are correct, and the reason is a correct explanation.

Option 2: Both assertion and reason are correct, and the reason is not correct explanation.  

Option 3: Assertion is false, but the reason is correct.

Option 4: Assertion is correct, but the reason is false.

Question : Assertion: Planning helps in reducing uncertainty and risks.

Reason: Planning involves forecasting and assessing potential challenges.

Option 1:

Both assertion and reason are correct, and the reason is a correct explanation.

Option 2: Both assertion and reason are correct, and the reason is not correct explanation.    

Option 3: Assertion is false, but the reason is correct.

Option 4: Assertion is correct, but the reason is false.

Question : Assertion: Budgeting is a part of the planning process.

Reason: Budgets are prepared after the implementation phase of a plan.

Option 1:

Both assertion and reason are correct, and the reason is a correct explanation.

Option 2: Both assertion and reason are correct, and the reason is not correct explanation.  

Option 3: Assertion is false, but the reason is correct.

Option 4: Assertion is correct, but the reason is false.