1. LO 7.1Which of the following is not a part of budgeting? 2. LO 7.1Which of the following is an operating budget?
3. LO 7.1Which of the following is a finance budget?
4. LO 7.1Which approach is most likely to result in employee buy-in to the budget?
5. LO 7.1Which approach requires management to justify all its expenditures?
6. LO 7.1Which of the following is true in a bottom-up budgeting approach?
7. LO 7.1The most common budget is prepared for a ________.
8. LO 7.2Which of the operating budgets is prepared first?
9. LO 7.2The direct materials budget is prepared using which budget’s information?
10. LO 7.2Which of the following is not an operating budget?
11. LO 7.2Which of the following statements is not correct?
12. LO 7.2The units required in production each period are computed by which of the following methods?
13. LO 7.3The cash budget is part of which category of budgets?
14. LO 7.3Which is not a section of the cash budget?
15. LO 7.3Which budget is the starting point in preparing financial budgets?
16. LO 7.3Which of the following includes only financial budgets?
17. LO 7.4Which budget evaluates the results of operations at the actual level of activity?
18. LO 7.4What is the main difference between static and flexible budgets?
Which of the following is least likely to be considered in preparing a sales budget?Which of the following factors is least likely to be considered in preparing a sales budget? The capital expenditures budget. A quantity of merchandise or materials over the minimum needed reduce the risk of running short is called: Safety stock.
Which of the following factors are considered during the preparation of sales budget?Over and above the points considered by the sales manager while preparing the sales budget, the following factors such as advertisements and other sales promotion activities, government policy and intervention, import possibility, cooperation of employees, product profitability etc.
Do all budgets depend on a sales budget?Your sales budget also directly impacts your production budget, because the production budget details how many products, goods, or services you need to make to meet your sales goals. Without a solid sales budget, your production budget will suffer.
Which of the following budgets is not an operating budget?Operating budgets include all the following budgets except the: Cash budget.
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