5 Written Questions
5 Matching Questions
- Production budget
- Operating budgets
- Gaming the performance measure
- Rolling financial forecast
- a Shows planned production for given period.
- b Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
- c Provides a constant planning horizon with the use of regularly updated forecasts.
- d A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
- e A result on non-value-adding actions taken by managers to improve indicated performance.
5 Multiple Choice Questions
- Consistency between the goals of the firm, its subunits, and its employees.
- A budgeting process that requires managers to prepare budgets from a zero base.
- Shows the amount of merchandise it needs to purchase during the period.
- Depicts effects on cash of all budgeted activities.
- Identify sources and uses of funds for budgeted operations and capital expenditures
5 True/False Questions
Capital budgeting → A budgeting approach that incorporates continuous improvement expectations in the budget.
Kaizen budgeting → A process for evaluating, selecting, and financing long-term projects
Direct materials purchases budget → Shows the amount and budgeted cost of direct material required for production
Direct materials usage budget → Shows the physical amount and cost of planned purchases of direct materials.
Strategic budget expenditures → Planned spending on projects and initiatives that lead to long-term value and competetive advantage.