5 Written questions
5 Matching questions
- Rolling financial forecast
- Kaizen budgeting
- Zero-base budgeting (ZBB)
- Gaming the performance measure
- Strategic budget expenditures
- a A budgeting approach that incorporates continuous improvement expectations in the budget.
- b Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
- c A budgeting process that requires managers to prepare budgets from a zero base.
- d A result on non-value-adding actions taken by managers to improve indicated performance.
- e Provides a constant planning horizon with the use of regularly updated forecasts.
5 Multiple choice questions
- Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
- Shows the physical amount and cost of planned purchases of direct materials.
- Consistency between the goals of the firm, its subunits, and its employees.
- An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
- Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
5 True/False questions
Direct materials usage budget → Shows the physical amount and cost of planned purchases of direct materials.
Merchandise purchases budget → Shows the amount of merchandise it needs to purchase during the period.
Cash budget → Depicts effects on cash of all budgeted activities.
Activity-based budgeting (ABB) → A budgeting process based on activities and cost drivers of operations.
Budget → A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.