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Budget committee in a firm is responsible for:
ACoordinating budget preparation
BAuditing tax returns
CApproving customer credit
DRunning marketing
Answer & Solution
Correct answer: A. Coordinating budget preparation
1. The budget committee comprises functional heads and senior management.
2. Its role is to coordinate the preparation of all functional budgets.
3. It does not run individual functions like audit or marketing.
4. Hence the committee coordinates budget preparation.
_Source: ICAI BoS Inter Paper 3, Ch 15 "Budget", §15.5.3 ¶2_
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