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true false questions 1 the total quality management approach to budgeting sets budge 4298272

True / False Questions

1. The total quality management approach to budgeting sets budgeted amounts at levels that can be achieved through reasonably efficient operations. 


2. The typical starting point of a master budget would be to prepare a budgeted balance sheet. 


3. A flexible budget allows management to spend more or less for labor and materials without regard to the amount of production. 


4. A company that is profitable may not have sufficient cash on hand to meet their immediate needs. 


5. In a master budget, the sales forecast would be dependent upon the budgeted production figures. 


6. Flexible budgets can be prepared for sales budgets but not for productions budgets. 


7. In a flexible budget, both variable and fixed costs will vary with the level of activity. 


8. The behavioral approach to budgeting has as its goal the complete elimination of inefficiency. 


9. A budget prepared using the total quality management approach is always achievable by departments within a company. 


10. A performance report can be easily adjusted to show budgeted revenues and costs at different levels of activity. 





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