
budget setting
Quiz
•
Professional Development
•
12th Grade
•
Practice Problem
•
Medium
Wayne Hall
Used 27+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Budget
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Why is it important to manage cash in a business?
Cash is king!
Cashflows are important as all transactions in a business ultimately end in cash. A business needs cash to meet all commitments and to allow for future expansion.
A shortage of cash in one month means the business is experiencing financial stress.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2 Main objectives of Accounting are:
To provide information to interested parties for decision making and to evaluate the performance of the business.
To provide information to everyone about the business.
To allow management to make decisions.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: Budgets are a part of the internal controls of a business.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the following isn't fixed cost
Insurance
Interest expense
Utilities
Direct materials
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the following isn't variable cost
Direct materials
Commission
Rent
Freight out
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is responsible for the budget?
Accountants
Shareholders
Investors
Management
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