5 Written questions
5 Matching questions
- Cash budget
- Zero-base budgeting (ZBB)
- Production budget
- Master budget
- Financial budgets
- a A budgeting process that requires managers to prepare budgets from a zero base.
- b Shows planned production for given period.
- c Identify sources and uses of funds for budgeted operations and capital expenditures
- d Depicts effects on cash of all budgeted activities.
- e An organization's operating and financing plan for the upcoming period; it translates short-term objectives into action steps
5 Multiple choice questions
- Reward managers for performance based on comparison of actual results with specified benchmarks not budgeted targets.
- A budgeting process based on activities and cost drivers of operations.
- Shows the physical amount and cost of planned purchases of direct materials.
- A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
- Consistency between the goals of the firm, its subunits, and its employees.
5 True/False questions
Practical capacity → Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.
Long-range plans → The "cushion" managers intentionally build into budgets to help ensure success in meeting the budget.
Kaizen budgeting → A process for evaluating, selecting, and financing long-term projects
Capital budgeting → A process for evaluating, selecting, and financing long-term projects
Operating budgets → Plans for all phases of operations and include production, purchasing, personnel, and marketing budgets.