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In the following question, I thought that the statement 2 is correct because the word budget in the budget committee seemed to suggest that it is the responsibility of this committee. So why is this not the case and what actually are the responsibilities of the budget committee. Also is the statement number one true or false and why
Question: Is each of the following statements about aspects of budget administration true or false?
1)A budget manual is a set of instructions governing aspects of the preparation of budgets.
2)One of the responsibilities of the budget committee is to prepare the annual budgets.The budget committee do not prepare the budgets. They do things like organise who is preparing which budget and check it is all going smoothly.
The first statement is true – the statement describes what the manual is.
(Why are you attempting questions for which you do not have the answer? You should be using a Revision Kit from one of the ACCA approved publishers.)
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