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WorksheetsBusiness Management Unit 5
Total questions: 15
Worksheet time: 8mins
To develop realistic budgets, existing businesses usually base their
estimates on:
A governmental information.
B. competitors' activities.
C. past performance.
D. industry data.
What is the relationship between a business's goals and its budget?
A Goals are established after the budget so that they are realistic.
B. Goals state the big picture and are unrelated to a detailed budget.
c. Budgets reflect real business activity while goals are usually unrealistic.
Budgets translate a business's goals into actual means for accomplishing them.
Which is a factor that might cause a business to adjust its budget figures?
local elections
economic trends
c. sales procedures
D. operating policies
For financial information to be comparable, it must also be:
consistent.
в. current.
c. digital.
D. private.
A company looks at financial information and learns that it could save money by switching to a different Internet provider. This is an example of using financial information to:
A create a budget.
B reduce expenses.
plan business expansion.
create a communication plan.
Karen, a hedge fund manager, is considering investing in a new company: She is looking at the financial statement that gives her insight into what the company owes and owns. Which financial statement is it?
A budget
balance sheet
cash flow statement
profit and loss statement
Sierra, a managerial accountant for Pepsi, develops estimates of how much each department will spend in the upcoming year. What task of managerial accounting is she completing?
budgeting
B. handling taxes
c. recording transactions
D. aiding in strategic planning
When a business decides to pay a loan off early due to a cash surplus, how is this business using financial information?
to manage debt
to increase sales
c. to create budgets
D. to make purchases
What types of financial information are most useful to businesses?
A vague and logical
B. sensitive and external
c. transferable and creative
D. timely and understandable
A manager is most likely to use financial information when:
A establishing lines of authority within an organization.
B. researching the demographics of a new target market.
(c. deciding if resources are available to fund a new project.
D. calculating the number of on the job injuries in the past year.
The owners of C&G Auto regularly review their budget to determine whether they are:
A offering loans to employees.
paying interest to customers.
following their financial plans.
receiving discounts from vendors.
Which is a way that businesses can use financial information?
to identify trends
B. to conduct focus groups
c. to select selling strategies
D. to create an economic system
The master budget for Aubrey's Day Care Center is made up of information from:
A the previous year's budget, with a 10% increase.
internal sales forecasts and the probable level of competition.
specialized budgets that are handed down from management.
specialized budgets that are generated by individual departments.
After a business designates categories of expense in its budget, it:
A applies a formula.
attaches a time limit.
appoints an accountant.
allocates a dollar amount.
How is a budget like a tree?
A budget changes from season to season.
A budget requires care and nurturing, like a young tree.
A budget is divided into categories and subcategories similar to branches.
A budget is supported by strong sales, like a tree is supported by strong roots.
