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41 which of the following is not a result of following a well designed budgeting pro 4299361

 

41. Which of the following is not a result of following a well-designed budgeting process? 

A. Improved decision-making processes.

B. Improved performance evaluations.

C. Improved coordination of business activities.

D. Assurance of future profits.

E. All of these are benefits of effective budgeting.

42. Which of the following is a benefit derived from budgeting? 

A. Budgeting focuses management's attention on the future.

B. Budgeting provides coordination of departments.

C. Budgeting provides a basis for evaluating performance.

D. Budgeting provides motivation for managers and employees.

E. All of these.

43. Which of the following statements about budgeting is false? 

A. Budgeting is an aid to planning and control.

B. Budgets create standards for performance evaluation.

C. Budgets help coordinate the activities of the entire organization.

D. Budgeting forces managers to think ahead and formalize long-range objectives.

E. The master budget should only be prepared by top management.

44. A budget is best described as: 

A. A formal statement of a company's future plans usually expressed in monetary terms.

B. A master control device.

C. An informal statement of company's future plans usually expressed in monetary terms.

D. The most crucial component of a company's evaluation process.

E. The minimum acceptable performance level.

45. The overall coordinating activity of the budget process is the responsibility of the: 

A. Chief Accounting Officer.

B. Chief Executive Officer (CEO).

C. Chief Financial Officer (CFO).

D. Budget Committee.

E. Board of Directors.

46. The set of periodic budgets that are prepared and periodically revised in the practice of continuous budgeting are called: 

A. Production budgets.

B. Sales budgets.

C. Cash budgets.

D. Rolling budgets.

E. Capital expenditures budgets.

47. Guidance for preparing a master budget is usually the responsibility of: 

A. The company CEO.

B. The marketing department.

C. A budget committee.

D. The chief financial officer.

E. Lower level management.

48. The most useful budget figures are developed: 

A. From the “top-down”.

B. From the “bottom-up” following a participatory process.

C. Solely by the budget committee.

D. By the CEO.

E. After the accounting period has begun.

49. The practice of preparing budgets for each of several future periods and revising those budgets as each period is completed, adding a new budget each period so that the budgets always cover the same number of future periods, is called: 

A. Participatory budgeting.

B. Capital budgeting.

C. Balanced budgeting.

D. Continuous budgeting.

E. Primary budgeting.

50. The usual budget period is: 

A. An annual period of 250 working days.

B. A monthly period separated into daily budgets.

C. A quarterly period separated into weekly budgets.

D. An annual period separated into weekly budgets.

E. An annual period separated into quarterly and monthly budgets.

 

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