5 Written questions
5 Matching questions
- Practical capacity
- Capital budgeting
- Long-range plans
- Goal congruence
- a Consistency between the goals of the firm, its subunits, and its employees.
- b A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
- c Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
- d The measure of capacity used to estimate cost-driver rates under ABC and TDABC systems.
- e A process for evaluating, selecting, and financing long-term projects
5 Multiple choice questions
- The process of projecting continuing operations and projects and then reflecting their financial impact.
- A budgeting approach that incorporates continuous improvement expectations in the budget.
- Provides a constant planning horizon with the use of regularly updated forecasts.
- Shows the physical amount and cost of planned purchases of direct materials.
- A result on non-value-adding actions taken by managers to improve indicated performance.
5 True/False questions
Merchandise purchases budget → Shows the physical amount and cost of planned purchases of direct materials.
Production budget → Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
Budgetary slack → The "cushion" managers intentionally build into budgets to help ensure success in meeting the budget.
Financial budgets → Identify sources and uses of funds for budgeted operations and capital expenditures
Relative performance contracts → An incentive compensation plan whereby compensation is a function of actual performance compared to a fixed (budgeted) target.