I. Budget is the process of preparing business estimates

II. Budgetary control is the means to achieve performance on the basis of budget

Which of the following statements is/are correct about budget, budgeting & budgetary control?

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Consider the following statement (s):
I. Budget is the process of preparing business estimates

II. Budgetary control is the means to achieve performance on the basis of budget

Which of the following statements is/are correct about budget, budgeting & budgetary control?

[A] Only I

[B] Only II

[C] Both I and II

[D] Neither I nor II

Answer & Explanation
Answer: Only II