All of these are importance of budget in governmental Accounting except:

a.

It serves as a framework for operation

b.

A standard against which efficiency and effectiveness can be measured

c.

It helps in long term planning

d.

It informs readers what activities the organization plans to undertake.

According to GASB standards relating to budgetary accounting, budgetary comparisons should be included in the appropriate financial statements or schedules for governmental funds for which an annual budget has been adopted.

a.

FALSE

b.

TRUE