1) What responsibility do treasury professionals typically have in regards to budgets?

a. Treasury professionals use budgets primarily for planning and variance analysis.

b. Treasury professionals need to assess the impact budgets have on debt covenants but not credit ratings.

c. Treasury professionals use budgets as an input to their work but are not responsible for the budgeting process.

d. Budgets may require treasury professionals to change how they handle short-term assets to maintain overall liquidity.