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Strategic Budgeting

Quiz by Jan Datinguinoo

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What is the primary purpose of strategic budgeting?
29
To prepare for tax obligations
To minimize expenses at all costs
To evaluate departmental performance
To align financial resources with organizational goals

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5 questions

Show answers

Q1
What is the primary purpose of strategic budgeting?
To prepare for tax obligations
To minimize expenses at all costs
To evaluate departmental performance
To align financial resources with organizational goals
30s
Q2
What is one key goal of strategic budgeting?
Avoiding tax penalties
Managing day-to-day cash flow
Reducing employee hours
Supporting long-term business goals
30s
Q3
How does strategic budgeting typically begin?
Leaders define the company's strategic goals
A template from last year is reused
Finance team reviews past spending
Departments send in their budget requests
30s
Q4
Which of the following is a tool commonly used in strategic budgeting
Fixed annual reports only
Balance scorecard
Coin toss budgeting
Employee timecards
30s
Q5
What is a common challenge companies face with strategic budgeting
Resistance to change
Employees being too excited
Too much leftover money
Easy and fast implementation
30s

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