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5 Written questions

5 Matching questions

  1. Direct materials purchases budget
  2. Direct materials usage budget
  3. Budgeting
  4. Strategic budget expenditures
  5. Merchandise purchases budget
  1. a Shows the physical amount and cost of planned purchases of direct materials.
  2. b Shows the amount and budgeted cost of direct material required for production
  3. c Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
  4. d The process of projecting continuing operations and projects and then reflecting their financial impact.
  5. e Shows the amount of merchandise it needs to purchase during the period.

5 Multiple choice questions

  1. A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
  2. Shows expected sales in units at their expected selling prices.
  3. Depicts effects on cash of all budgeted activities.
  4. A result on non-value-adding actions taken by managers to improve indicated performance.
  5. Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).

5 True/False questions

  1. Budgetary slackThe process of projecting continuing operations and projects and then reflecting their financial impact.

          

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

          

  3. Practical capacityThe measure of capacity used to estimate cost-driver rates under ABC and TDABC systems.

          

  4. Capital budgetingA process for evaluating, selecting, and financing long-term projects

          

  5. Operating budgetsIdentify sources and uses of funds for budgeted operations and capital expenditures