What is the primary purpose of monitoring budgets?

M&A 1.57 Budget Monitoring Quiz

Quiz
•
Financial Education
•
12th Grade
•
Hard

Lenna Alexandre
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To ensure compliance with regulations
To ensure efficiencies and that costs do not overrun
To impress stakeholders
To increase revenue
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which tool is commonly used to compare actual spend against the forecasted budget?
Gantt chart
SWOT analysis
Budget variance report
PERT chart
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a budget variance report help identify?
Future investment opportunities
Differences between actual spend and budgeted spend
Employee performance
Market trends
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to track budget expenditures monthly?
To avoid tax penalties
To ensure continuous cash flow
To manage any variances promptly
To satisfy auditors
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a tracking tool used for budget monitoring?
Excel spreadsheets
Accounting software
Social media analytics
Financial dashboards
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'underspend' refer to in budget monitoring?
Spending more than the allocated budget
Spending exactly the allocated budget
Spending less than the allocated budget
Not spending any of the budget
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key benefit of using financial dashboards for budget tracking?
They are visually appealing
They provide real-time data insights
They are inexpensive to create
They require no training
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