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5 Written Questions

5 Matching Questions

  1. Master budget
  2. Time-driven activity-based
    budgeting (TDABB)
  3. Relative performance contracts
  4. Fixed performance contract
  5. Operating budgets
  1. a An incentive compensation plan whereby compensation is a function of actual performance compared to a fixed (budgeted) target.
  2. b Represents budgets prepared in conjunction with a TDABC system.
  3. c Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
  4. d Reward managers for performance based on comparison of actual results with specified benchmarks not budgeted targets.
  5. e An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps

5 Multiple Choice Questions

  1. Shows expected sales in units at their expected selling prices.
  2. Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
  3. Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
  4. Identify sources and uses of funds for budgeted operations and capital expenditures
  5. Consistency between the goals of the firm, its subunits, and its employees.

5 True/False Questions

  1. Production budgetDepicts effects on cash of all budgeted activities.


  2. BudgetA detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.


  3. Cash budgetShows expected sales in units at their expected selling prices.


  4. Kaizen budgetingA process for evaluating, selecting, and financing long-term projects


  5. Merchandise purchases budgetShows the physical amount and cost of planned purchases of direct materials.


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