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.
Correct Answer: Assertion is correct, but the reason is false.
Solution : The correct answer is (d) Assertion is correct, but the reason is false.
The assertion is correct as budgeting is indeed a part of the planning process. However, the reason is incorrect because budgets are typically prepared before the implementation phase of a plan. Budgets are essential components of the planning phase, providing a detailed financial outline of the resources required to implement the plan.
Question : Assertion: Budgeting is not an ongoing process in an organization.
Reason: Budgets are prepared only once at the beginning of a financial year.
Question : Assertion: Budgeting is a continuous process of resource allocation.
Reason: Budgets are prepared only once at the beginning of the fiscal year.
Question : Assertion: Budgets help in allocating resources in a planned manner.
Reason: Budgets are related to resource allocation.
Question : Assertion: Budgeting helps in controlling expenditures.
Reason: Budgeting does not involve any control measures.
Question : Assertion: Budgets help in evaluating the performance of different households.
Reason: Budgets do not provide any information on departmental performance.
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