5 Written questions
5 Matching questions
- Kaizen budgeting
- Gaming the performance measure
- Budgetary slack
- Operating budgets
- Master budget
- a A budgeting approach that incorporates continuous improvement expectations in the budget.
- b Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
- c A result on non-value-adding actions taken by managers to improve indicated performance.
- d The "cushion" managers intentionally build into budgets to help ensure success in meeting the budget.
- e An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
5 Multiple choice questions
- Depicts effects on cash of all budgeted activities.
- Shows the amount of merchandise it needs to purchase during the period.
- Shows expected sales in units at their expected selling prices.
- The measure of capacity used to estimate cost-driver rates under ABC and TDABC systems.
- A budgeting process based on activities and cost drivers of operations.
5 True/False questions
Budget → The process of projecting continuing operations and projects and then reflecting their financial impact.
Financial budgets → Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
Budgeting → A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
budgeting (TDABB) → A budgeting process based on activities and cost drivers of operations.
Fixed performance contract → Reward managers for performance based on comparison of actual results with specified benchmarks not budgeted targets.