U34 ACC
Authored by Ghazwa Moukaddem
Professional Development
University - Professional Development
Used 12+ times
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61 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budget
A formal statement of the financial resources set aside for carrying out specific activities in a given period of time
A control technique whereby actual results are compared with budgets
any functional unit headed by a manager who is responsible for the activities of that unit.
Organisational units in which outputs are measured in monetary terms but are not directly compared to input costs.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A responsibility center
A formal statement of the financial resources set aside for carrying out specific activities in a given period of time
A control technique whereby actual results are compared with budgets
any functional unit headed by a manager who is responsible for the activities of that unit.
Organisational units in which outputs are measured in monetary terms but are not directly compared to input costs.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Revenue centers
A formal statement of the financial resources set aside for carrying out specific activities in a given period of time
A control technique whereby actual results are compared with budgets
any functional unit headed by a manager who is responsible for the activities of that unit.
Organisational units in which outputs are measured in monetary terms but are not directly compared to input costs.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expense centers
Units where inputs are measured in monetary terms but outputs are not.
Where performance is measured by the difference between revenues (outputs) and expenditure (inputs)
Where outputs are compared with the assets employed in producing them, i.e. ROI
Where outputs are measured in monetary terms but are not directly compared to input costs.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Profit centers
Units where inputs are measured in monetary terms but outputs are not.
Where performance is measured by the difference between revenues (outputs) and expenditure (inputs)
Where outputs are compared with the assets employed in producing them, i.e. ROI
Where outputs are measured in monetary terms but are not directly compared to input costs.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Investment centers
Units where inputs are measured in monetary terms but outputs are not.
Where performance is measured by the difference between revenues (outputs) and expenditure (inputs)
Where outputs are compared with the assets employed in producing them, i.e. ROI
Where outputs are measured in monetary terms but are not directly compared to input costs.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Advantage of budgeting
bad labour relations
Promotes coordination and communication
inaccurate record-keeping
disables remedial action to be taken as variances emerge
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