The third major objective of budgets or budgeting.Select one:a.Allocation of Resourcesb.Planning Aheadc.Business Coordinationd.Performance Evaluation

Analyzing the Options

1. Allocation of Resources: This aspect of budgeting ensures that financial resources are distributed effectively towards various parts of the organization to achieve its goals.

2. Planning Ahead: Budgeting is fundamentally a planning tool that helps organizations set financial targets and plan for future financial performance.

3. Business Coordination: Budgets help in coordinating various departments by aligning their objectives with the overall goals of the organization.

4. Performance Evaluation: Budgets are used to evaluate performance by comparing actual results to budgeted figures, helping identify variances and areas for improvement.

Conclusion

Among these options, while all are important aspects of budgeting, the third major objective often emphasized in many budgeting frameworks is d. Performance Evaluation. The process of budgeting allows organizations to assess their performance over a given period by comparing actual outcomes with planned budgets, making it essential for ensuring accountability and guiding future strategy.

Final Answer

d. Performance Evaluation