5 Written Questions
5 Matching Questions
- Merchandise purchases budget
- Time-driven activity-based
- Zero-base budgeting (ZBB)
- Activity-based budgeting (ABB)
- Kaizen budgeting
- a A budgeting approach that incorporates continuous improvement expectations in the budget.
- b Represents budgets prepared in conjunction with a TDABC system.
- c Shows the amount of merchandise it needs to purchase during the period.
- d A budgeting process that requires managers to prepare budgets from a zero base.
- e A budgeting process based on activities and cost drivers of operations.
5 Multiple Choice Questions
- Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
- A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
- Shows expected sales in units at their expected selling prices.
- A result on non-value-adding actions taken by managers to improve indicated performance.
- Shows the amount and budgeted cost of direct material required for production
5 True/False Questions
Goal congruence → Shows expected sales in units at their expected selling prices.
Rolling financial forecast → Identify sources and uses of funds for budgeted operations and capital expenditures
Operating budgets → Identify sources and uses of funds for budgeted operations and capital expenditures
Practical capacity → A process for evaluating, selecting, and financing long-term projects
Master budget → An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps