Which of the following is not a part of budgeting?A. planningB. finding bottlenecksC. providing performance evaluationsD. preventing net operating losses
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Which of the following is not a part of budgeting?
A. planning
B. finding bottlenecks
C. providing performance evaluations
D. preventing net operating losses
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- Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgetingFocusing on improving the activities that are showing significant differences between budgeted and actual results is: A.quantifying plans B.management by exception C.cash management D.creating benchmarks2 Which of the following items does not follow from the adoption of a budget? a. Deterrent to waste b. Basis for performance evaluation c Guarantee of accomplishing the profit objective d. Promote efficiency
- Which of the following is not a benefit of budgeting? a. It sets some standards to evaluate performance. b. It uncovers drawbacks of department performance c. It reduces the need to track the actual cost activity d. It formalizes a manager's planning effortsWhich of the following is true of budgeting? a.Budgeting relies on the control cycle to design the planning cycle for future action. b.Budgeting eradicates the need for keeping a buffer against uncertainties in demand. c.Budgeting focuses only on long-term objectives as covered by the planning cycle. d.Budgeting forces management to plan for the future. e.Budgeting creates a plan of action only in terms of production units.Which of the following is not an accepted principle of effective budgeting? A• Flexibility B• Top management support C• Communication of results D• Responsibility accounting
- 1. Explain the concept of responsibility accounting and its relation with budgeting.2. Explain how the choice of the type of responsibility center (cost, revenue, profit, orinvestment) affects behavior.3. Discuss the concept of “budgetary slack”TRUE OR FALSE Budgeting systems should be subjected to the cost-benefit approach.1. The organizational process of budgeting performs several important functions. Which is true? A. Assigns decision rights B. Shares knowiedge C. Measures performance D. All of the choices are correct
- The Zero Base Budget (ZBB) is the budget system that most influences resource allocation management by involving the devolution of decision making power to the lower levels. Identify whether this statement is true or false. Select one:TrueFalseDescribe how nonoutput-based cost drivers can be incorporated into budgeting.What is the main advantage of an object classification budget? What are its limitations? How do performance budgets overcome these limitations?