Which of the following is the most useful for managers? a) Financial statements for the last financial year

Management Dec 24, 2020

Which of the following is the most useful for managers?

a) Financial statements for the last financial year.

b) Tax records for the past five years.

c) Budgets for the coming financial year.

d) Bank statements for the past year.

Expert Solution

c) Budgets for the coming financial year.

To achieve the planning function, the management rely on information provided which facilitates making decisions for the business. Management tend to utilize current information as well as future information. The management therefore need to make forecasts for possible future outcomes through the use of statistical data. The budgets prepared by an organization are based on future estimates to guide the course of action the management should apply to achieve development in the business.

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