
Budgeting
Quiz
•
Professional Development
•
Professional Development
•
Medium
Nicole Chuchmach
Used 1+ times
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budgets are a tool that can help hospitality managers reach the financial goals in their business.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A zero-based budget has managers begin a budget from scratch, without using previous data or historical figures.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A zero-based budget is easy to prepare
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a hospitality manager underestimates revenues, this is known as.....
Top-down budgeting
Incremental budgeting
Budgetary slack
Cash budgeting
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A capital budget is used to:
Summarizes the plan for cash
Summarizes the plan for acquiring and selling capital assets
Summarizes the plan for invoicing
Summarizes the plan for managing accounts receivables
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budgets can be compared to actual amounts and can be used to evaluate the current performance of of the operation and employees.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Incremental budgets do not use historical data
True
False
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Top-down budgeting is when management determines the budgeted figures
True
False
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As a future hospitality manager and leader, when preparing a budget, you should always overestimate expenses.
True
False
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