Financial Planning Tools and Concepts

Financial Planning Tools and Concepts

12th Grade

20 Qs

quiz-placeholder

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Financial Planning Tools and Concepts

Financial Planning Tools and Concepts

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

Vivian Parazo

Used 56+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The strategic plan is management's vision of what they desire the organization to achieve over the long term.

True 

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An advantage of budgeting is that it requires managers to evaluate why things did not progress according to the plan.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Participative budgeting allows employees throughout the organization to have input into the budget-setting process.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Budgets that are tight but attainable are less likely to motivate people than budgets that are easy to achieve.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Operating budgets focus on the financial resources needed to support operations.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The direct labor budget is based on the budgeted sales levels.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Budgeted manufacturing overhead includes indirect manufacturing costs, but not selling and administrative costs.

True

False

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