
QUIZ MANAGEMENT ACCOUNTING I 2020
Authored by Raisya Zenita
Business
University
Used 1+ times

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21 questions
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1.
OPEN ENDED QUESTION
2 mins • Ungraded
Name and Student Number
Evaluate responses using AI:
OFF
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Budgeting is used to help companies:
plan to better satisfy customers
anticipate potential problems
focus on opportunities
All of these answers are correct
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Budgeting provides all of the following EXCEPT:
a means to communicate the organization's short-term goals to its members
support for the management functions of planning and coordination
a means to anticipate problems
an ethical framework for decision making
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
A company's actual performance should be compared against budgeted amounts for the same accounting period so that:
adjustments for future conditions can be included
no feedback is possible
no feedback is possible
rolling budget can be implemented
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Bowden Corporation used the following data to evaluate their current operating system. The company sells items for $20 each and used a budgeted selling price of $20 per unit.
Actual Budgeted
Units sold 46,000 units 45,000 units
Variable costs $225,400 $216,000
Fixed costs $47,500 $50,000
What is the static-budget variance of revenues?
$20,000 favorable
$20,000 unfavorable
$2,000 favorable
$2,000 unfavorable
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Bowden Corporation used the following data to evaluate their current operating system. The company sells items for $20 each and used a budgeted selling price of $20 per unit.
Actual Budgeted
Units sold 46,000 units 45,000 units
Variable costs $225,400 $216,000
Fixed costs $47,500 $50,000
What is the static-budget variance of operating income?
$10,600 favorable
$10,600 unfavorable
$13,100 favorable
$13,100 unfavorable
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A variance is:
the gap between an actual result and a benchmark amount
the required number of inputs for one standard output
the difference between an actual result and a budgeted amount
the difference between a budgeted amount and a standard amount
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