What are the four elements of the budgeting cycle?
a. 1. identifying the problem and uncertainties
2. obtaining information
3. making predictions about the future
4. evaluating performance and learning
b. 1. planning the performance of the company as a whole and of its subunits
2. providing subordinate managers with a frame of reference
3. investigation into variations from the plan
4. use of feedback, new conditions and experience to develop a plan for the next period
c. 1. preparing the supporting schedules of the operating budget
2. preparing the budgeted income statement
3. preparing the budgeted balance sheet
4. preparing the cash budget
d. 1. coordination among subunits within the company
2. promotion of communication among subunits within the company
3. providing a framework for judging performance and facilitating learning
4. motivating managers and other employees

B. 1. Planning the performance of the company as a whole and of its sub-units

2. Providing subordinate managers with a frame of reference

3. Investigation into variations from the plan

4. Use of feedback, new conditions and experience to develop a plan for the next period.

Explanation:

Budgeting cycle is the key element of planning the functions of a company.

This is the element which defines the availability of resources with the company. This includes the following:

Planning: This step basically sets the targets of the company to be achieved and that clearly divided into sub units or segments also.

Management: Management shall be designated for each segment individually to meet the segment performance criteria.

Investigation: This involves investigating what a company can do and what it cannot, what further alterations can be done.

Feedback: This is used as a step, to monitor whether as far we running the performance in main direction as stated in planning, or if any problems faced by employees or managers shall be taken care.

answer; test-retest;

answer; measurable outcome;