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5 Written questions

5 Matching questions

  1. Operating budgets
  2. Direct materials usage budget
  3. Strategic budget expenditures
  4. Financial budgets
  5. Budget
  1. a Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
  2. b Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
  3. c A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
  4. d Identify sources and uses of funds for budgeted operations and capital expenditures
  5. e Shows the amount and budgeted cost of direct material required for production

5 Multiple choice questions

  1. Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
  2. The measure of capacity used to estimate cost-driver rates under ABC and TDABC systems.
  3. A budgeting process that requires managers to prepare budgets from a zero base.
  4. A budgeting process based on activities and cost drivers of operations.
  5. The process of projecting continuing operations and projects and then reflecting their financial impact.

5 True/False questions

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


  2. Capital budgetingA process for evaluating, selecting, and financing long-term projects


  3. Relative performance contractsAn incentive compensation plan whereby compensation is a function of actual performance compared to a fixed (budgeted) target.


  4. Sales budgetShows expected sales in units at their expected selling prices.


  5. Time-driven activity-based
    budgeting (TDABB)
    A budgeting process based on activities and cost drivers of operations.


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