Method in which a budget established at the beginning of an accounting period is continuously amended to reflect variance that arises due to changing circumstances.

Budget

Quiz
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Other
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University
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Hard
Madura Raut
Used 6+ times
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Short term budget
Long term budget
Current budget
Rolling Budget
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The _____________ is a summary of company’s plans that sets specific targets for sales, production, distribution and financing activities.
Sales budget
Master budget
Purchase budget
Research & Development budget
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Fund Procurement is part of ___________stage of budget cycle.
Preparation
Execution
Evalutation
Audit
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of below is NOT factors affecting budget planning
Accommodation available
Seating capacity
Excess labour
Quality of management
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Formula for Forecasting room revenue is ______________.
Rooms in hotel X RevPAR X occupancy percentage
Rooms sold X occupancy percentage X ADR
Rooms available X occupancy percentage X ARR
Rooms available X occupancy percentage X ADR
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Execution stage occurs six months after the start of the fiscal year.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Zero based budget is a type of budget classified according to expenditure.
TRUE
FALSE
8.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Research & Development Budget used for development or enhancement of a product or service.
TRUE
FALSE
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