Limitations of budgeting do NOT include:
AManager bias
BApproximate forecasts
CRigid plans
DMathematical precision
Answer & Solution
Correct answer: D. Mathematical precision
1. Budgets rely on forecasts and human judgement, both approximate.
2. They can become rigid when not flexed and managers may bias estimates.
3. Mathematical precision is not a feature, so it cannot be a limitation.
4. Hence the item that does not belong as a limitation is mathematical precision.
_Source: ICAI BoS Inter Paper 3, Ch 15 "Budget", §15.10 ¶3_
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