5 Written questions
5 Matching questions
- Time-driven activity-based
- Direct materials usage budget
- Activity-based budgeting (ABB)
- Budgetary slack
- a A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
- b The "cushion" managers intentionally build into budgets to help ensure success in meeting the budget.
- c A budgeting process based on activities and cost drivers of operations.
- d Shows the amount and budgeted cost of direct material required for production
- e Represents budgets prepared in conjunction with a TDABC system.
5 Multiple choice questions
- Depicts effects on cash of all budgeted activities.
- Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
- Identify sources and uses of funds for budgeted operations and capital expenditures
- The process of projecting continuing operations and projects and then reflecting their financial impact.
- Shows the amount of merchandise it needs to purchase during the period.
5 True/False questions
Strategic budget expenditures → Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
Relative performance contracts → An incentive compensation plan whereby compensation is a function of actual performance compared to a fixed (budgeted) target.
Master budget → An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
Production budget → Shows planned production for given period.
Gaming the performance measure → An incentive compensation plan whereby compensation is a function of actual performance compared to a fixed (budgeted) target.