. Budgeting involves ________. establishing specific goals executing plans to achieve the goals periodically comparing actual results with the goals All of these choices are correct.
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1. Budgeting involves ________.
- establishing specific goals
- executing plans to achieve the goals
- periodically comparing actual results with the goals
- All of these choices are correct.
2. Budgeting affects all of the following managerial functions except ________.
- planning
- directing
- controlling
- None of these choices are correct.
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- Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgetingWhich one of the following is related to the decision making function of management: O a. Establishing goals O b. Choosing among alternatives O c. None of the given answers O d. Budgeting O e. Performance reportsWhich one of the following is related to the decision making function of management a. Performance reports b. Budgeting c. Choosing among alternatives d. None of the given answers e. Establishing goals
- 1. The organizational process of budgeting performs several important functions. Which is true? A. Assigns decision rights B. Shares knowiedge C. Measures performance D. All of the choices are correctWhich of the following is not an advantage of budgeting? a) Forces managers to planb) Provides information for decision makingc) Guarantees an improvement in organizational efficiencyd) Provides a standard for performance evaluatione) Improves communication and co-ordinationBudgets are an effective device to communicate a. objectives b. constraints c. expectation to personnel d. all of the choices
- Answer with logical reasoning. Give an example where needed i. How management accounting and cost accounting can be an efficient in monetary and non-monetary report management as compared to financial accounting reporting system. ii. How flexible budget through performance reporting is help for the management in determination of direct material cost control?Focusing on improving the activities that are showing significant differences between budgeted and actual results is: A.quantifying plans B.management by exception C.cash management D.creating benchmarksManagers in which of the following responsibility centers are held responsible forprofits? (You may select more than one answer.)a. Revenue centersb. Cost centersc. Profit centersd. Investment centers
- Which one of the following is NOT a budgetary benefit? It establishes the organization's goal. It establishes communication between different levels of management. It reveals the organization's effectiveness. It aids in the measurement of production efficiency.Which of the following is not a benefit of budgeting? a. It sets some standards to evaluate performance. b. It uncovers drawbacks of department performance c. It reduces the need to track the actual cost activity d. It formalizes a manager's planning effortsWhich of the following budgeting processes is LEAST likely to motivate managers toward organizational goals?a. setting budget targets at attainable levelsb. participation by subordinates in the budgetary processc. use of management by exceptiond. holding subordinates accountable for the items they controle. having top management set budget levels