5 Written questions
5 Matching questions
- Capital budgeting
- Cash budget
- Relative performance contracts
- Long-range plans
- Operating budgets
- a Reward managers for performance based on comparison of actual results with specified benchmarks not budgeted targets.
- b Depicts effects on cash of all budgeted activities.
- c Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
- d A process for evaluating, selecting, and financing long-term projects
- e Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
5 Multiple choice questions
- An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
- A budgeting process that requires managers to prepare budgets from a zero base.
- The "cushion" managers intentionally build into budgets to help ensure success in meeting the budget.
- A result on non-value-adding actions taken by managers to improve indicated performance.
- Shows expected sales in units at their expected selling prices.
5 True/False questions
Direct materials usage budget → Shows the amount and budgeted cost of direct material required for production
Budget → The process of projecting continuing operations and projects and then reflecting their financial impact.
Activity-based budgeting (ABB) → A budgeting process based on activities and cost drivers of operations.
Strategic budget expenditures → Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
budgeting (TDABB) → A budgeting process based on activities and cost drivers of operations.