5 Written questions
5 Matching questions
- Relative performance contracts
- Cash budget
- Zero-base budgeting (ZBB)
- Strategic budget expenditures
- Financial budgets
- a Depicts effects on cash of all budgeted activities.
- b Reward managers for performance based on comparison of actual results with specified benchmarks not budgeted targets.
- c Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
- d Identify sources and uses of funds for budgeted operations and capital expenditures
- e A budgeting process that requires managers to prepare budgets from a zero base.
5 Multiple choice questions
- The measure of capacity used to estimate cost-driver rates under ABC and TDABC systems.
- A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
- A budgeting approach that incorporates continuous improvement expectations in the budget.
- A process for evaluating, selecting, and financing long-term projects
- A budgeting process based on activities and cost drivers of operations.
5 True/False questions
budgeting (TDABB) → Represents budgets prepared in conjunction with a TDABC system.
Operating budgets → Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
Production budget → An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
Master budget → An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
Long-range plans → Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).