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5 Written questions

5 Matching questions

  1. Strategic budget expenditures
  2. Master budget
  3. Capital budgeting
  4. Gaming the performance measure
  5. Budget
  1. a A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
  2. b A result on non-value-adding actions taken by managers to improve indicated performance.
  3. c Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
  4. d An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
  5. e A process for evaluating, selecting, and financing long-term projects

5 Multiple choice questions

  1. Provides a constant planning horizon with the use of regularly updated forecasts.
  2. Shows expected sales in units at their expected selling prices.
  3. Depicts effects on cash of all budgeted activities.
  4. Shows planned production for given period.
  5. Shows the physical amount and cost of planned purchases of direct materials.

5 True/False questions

  1. Merchandise purchases budgetShows the amount of merchandise it needs to purchase during the period.

          

  2. Fixed performance contractReward managers for performance based on comparison of actual results with specified benchmarks not budgeted targets.

          

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

          

  4. Direct materials usage budgetShows the physical amount and cost of planned purchases of direct materials.

          

  5. Activity-based budgeting (ABB)A budgeting process that requires managers to prepare budgets from a zero base.

          

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