
Chapter 08 - Master Budgeting
Authored by Oh Naur
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University
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is a detailed plan for the future that is usually expressed in formal quantitative terms.
Budget
Budgeting
Planning
Control
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is a budget that is prepared with the full cooperation and participation of managers at all levels.
Managerial Budget
Responsible Budgeting
Self-imposed Budget
Team Budget
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This budget is comprised of all non-manufacturing departments.
Direct Labor Budget
Selling and Administrative Budget
Production Budget
Manufacturing Overhead Budget
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This involves developing goals and preparing various budgets to achieve those goals.
Budget
Budgeting
Planning
Control
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It enables organizations to react quickly to deviations from their plans and to learn from feedback.
Responsibility Budgeting
Managerial Accounting
Responsibility Accounting
Managerial Budgeting
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is the act of preparing a budget.
Budget
Budgeting
Planning
Control
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An estimation of the cash flows of a business over a specific period of time.
Service Budget
Profit Budget
Sales Budget
Cash Budget
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