Budgeting - Higher Accounting
Authored by Lyndsay Kavanagh
Business
11th Grade
Used 4+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budgets are created to show a forecast or estimate of elements of income and items of cost for a
future operating period.
True
False
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of these are examples of Budgets. Tick all that apply.
Cash Budget
Production Budget
Sales Budget
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is the correct Acronym for calculating a Sales Budget?
PALS
SLAP
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Depreciation of an asset is deducted in a Cash Budget?
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are Bad Debts dealt with in a cash budget?
Bad Debts are listed as Payments
Bad Debts are deducted from Credit Sales in the Receipts
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the correct Acronym for the Production Budget?
SLAP
PALS
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where do you think the Closing Balance is recorded?
Income Statement
Statement of Financial Position
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