Consider the following statement (s) is/are true about budget, budgeting & budgetary control.

I. Budgetary control is a wider concept whereas Budget and budgeting are narrower concepts

II. Budget is the process of preparing business estimates.

Which of the following statements is/are correct?

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Consider the following statement (s) is/are true about budget, budgeting & budgetary control.

I. Budgetary control is a wider concept whereas Budget and budgeting are narrower concepts

II. Budget is the process of preparing business estimates.

Which of the following statements is/are correct?

[A] Only I

[B] Only II

[C] Both I and II

[D] Neither I nor II

Answer & Explanation
Answer: Only I