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5 Written questions

5 Matching questions

  1. Rolling financial forecast
  2. Kaizen budgeting
  3. Zero-base budgeting (ZBB)
  4. Gaming the performance measure
  5. Strategic budget expenditures
  1. a A budgeting approach that incorporates continuous improvement expectations in the budget.
  2. b Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
  3. c A budgeting process that requires managers to prepare budgets from a zero base.
  4. d A result on non-value-adding actions taken by managers to improve indicated performance.
  5. e Provides a constant planning horizon with the use of regularly updated forecasts.

5 Multiple choice questions

  1. Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
  2. Shows the physical amount and cost of planned purchases of direct materials.
  3. Consistency between the goals of the firm, its subunits, and its employees.
  4. An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
  5. Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.

5 True/False questions

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

          

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

          

  3. Cash budgetDepicts effects on cash of all budgeted activities.

          

  4. Activity-based budgeting (ABB)A budgeting process based on activities and cost drivers of operations.

          

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