CH M5 Quiz

A company prepares a five-year budget. This budget would be considered a(n)

• strategic budget

• operational budget

• master budget

• flexible budget

In public places in the state of Florida, what is illegal to do when wearing a swimsuit?

• drink

• dance

• sing

• sell coffee

Which of the following is the cornerstone of the master budget?

• The selling and administrative expense budget

• The budgeted balance sheet

• The sales budget

• The production budget

Who invented the word "vomit"?

• William Shakespeare

• Albert Einstein

• Alexander Graham Bell

• King Louis II

The budgeted balance sheet is part of which element of the master budget?

• Financial budget

• Operating budget

• Capital expenditures budget

• None of the above

In the state of Georgia, it is illegal to eat what with a fork?

• fried okra

• fried chicken

• grits

• peaches

Information technology has made it easier for mangers to perform all of the following tasks, except

• preparing performance reports that identify variances between actual and budgeted revenues and costs.

• combining individual units' budgets into the companywide budget.

• sensitivity analyses.

• removing budgetary slack from the budget.

Iceland diverted roads to avoid disturbing communities of what?

• polar bears

• elves

• puffins

• artic foxes

Which of the following expenses would NOT appear in the cash budget?

• Depreciation expense

• Marketing expense

• Interest expense

• Wages expense

What is measured in "Mickeys"?

• electrical currents

• the number of drinks you can down

• the speed of a computer mouse

• the speed of a house mouse