Budget Monitoring Quiz

What does it mean when a budget is described as 'positive/favourable'?

• Revenue/profits were lower than expected

• Costs were higher than expected

• Revenue/profits were higher than expected

• Costs were lower than expected

What could lead to an 'adverse/unfavourable' budget outcome?

• Costs were lower than expected

• Revenue/profits were lower than expected

• Revenue/profits were higher than expected

• Costs were higher than expected

In a 'positive/favourable' budget, what was better than expected?

• Neither costs nor revenue/profits

• Costs

• Revenue/profits

• Both costs and revenue/profits

What might cause an 'adverse/unfavourable' budget situation?

• Higher costs and higher revenue/profits

• Lower costs and higher revenue/profits

• Lower costs and lower revenue/profits

• Higher costs and lower revenue/profits

When costs are lower than expected in a budget, the budget is considered:

• Neutral

• Positive/favourable

• Adverse/unfavourable

• None of the above

If revenue/profits are higher than expected, the budget is seen as:

• Positive/favourable

• Neutral

• Adverse/unfavourable

• None of the above

What is the result of costs being higher than expected in a budget?

• Positive/favourable

• Adverse/unfavourable

• Neutral

• None of the above

If revenue/profits are lower than expected, the budget is considered:

• None of the above

• Neutral

• Adverse/unfavourable

• Positive/favourable

What does it mean when a budget is described as 'adverse/unfavourable'?

In an 'adverse/unfavourable' budget, what was worse than expected?

• Neither costs nor revenue/profits

• Costs

• Revenue/profits

• Both costs and revenue/profits