Which of the following is NOT an advantage of budgeting?

BUDGETING WITH PROBABILITY ANALYSIS

Quiz
•
Mathematics
•
University
•
Hard
Christy Peligro
FREE Resource
39 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It requires managers to state their objectives.
It facilitates control by permitting comparisons of budgeted and actual results.
It facilitates performance evaluation by comparing budgets with actual results.
It provides a check-up device that allows managers to keep close tabs on their subordinates.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budgets are a necessary component of financial decision making because they provide a (n)
Efficient allocation of resources
Means to use all the firm9s resources
Means to check managerial discretion
Automatic corrective mechanism for errors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In an organization that plans by using comprehensive budgeting, the master budget is
A compilation of all the separate operational and financial budget schedules of the organization
The booklet containing budget guidelines, policies and forms to use in the budgeting process
The current budget updated for operations for part of the current year
A budget for a non-profit entity after it is approved by the appropriate authoritative body
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The sales budget is classified as
A financial budget
A flexible budget
An operating budget
A program budget
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Using the concept of 8expected value9 in sales forecasting means that the sales forecast to be used is
Developed using the indicator method.
The sum of the sales expected by individual
Based on expected selling prices of the products
Based on probabilities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following equations can be used to budget purchases? (BI = Beginning inventory, EI = ending inventory desired, CGS = Budgeted cost of goods sold)
Budgeted purchases = CGS + BI – EI
Budgeted purchases = CGS + BI
Budgeted purchases = CGS + EI + BI
Budgeted purchases = CGS + EI – BI
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Colorado Company desires an ending inventory of P 60,000. It expects sales of P 120,000 and has a beginning inventory of P 40,000. Cost of sales is 60% of sales. Budgeted purchases are
P 60,000
P 72,000
P 92,000
P 132,000
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