ACC561 10 Final Questions A+ Work-11 - 23045

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31) A sales forecast is _____.
A. the result of decisions to create conditions
B. a prediction of sales under a given set of conditions
C. all of these answers are correct
D. the same as a sales budget that will generate a desired level of sales

32) _____ budgeting is when budgets are formulated with the active participation of all affected employees
A. Team
B. Financial
C. Shared
D. Participative

33) A _____ gives the expected sales under a given set of conditions.
A. sales budget
B. sales prediction
C. sales forecast
D. budget forecast

34) Unit sales of Product A are currently 10,000, while unit sales of Product B are double those of Product A. The com¬pany's sales forecast will be _____, assuming sales of Product A increase by 10% and those of Product B increase by 4,000 units.
A. 11,000 and 22,000 units, respectively
B. none of these answers is correct
C. 11,000 and 24,000 units, respectively
D. 10,000 and 20,000 units, respectively

35) The master budget includes forecasts for all of the following except _____.
A. number of employees
B. cash disbursements
C. balance sheets
D. sales

36) A sales forecast is _____.
A. the result of decisions to create conditions
B. all of these answers are correct
C. the same as a sales budget that will generate a desired level of sales
D. a prediction of sales under a given set of conditions

37) _____ are components of a master budget.
A. An operating budget and a financial budget
B. A cash budget and an activity budget
C. A continuous budget and a static budget
D. A strategic plan and an operating budget

38) Which of the following statements is false?
A. Flexible budgets are not based on the same revenue and cost behavior assumptions as the static budget.
B. Flexible budgets are automatically matched to changes in activity levels
C. Flexible budgets are prepared for a range of activity.
D. Flexible budgets help provide a basis for management by exception.

39) The master budget quantifies targets for all of the following except _____.
A. production
B. cost driver activity
C. markets
D. sales

40) Cost allocation base refers to the _____.
A. total costs to be allocated
B. total allocated costs
C. cost objectives
D. cost driver

Solution Description

31) A sales forecast is _____.
A. the result of decisions to create conditions
B. a prediction of sales under a given set of conditions
C. all of these answers are correct
D. the same as a sales budget that will generate a desired level of sales

32) _____ budgeting is when budgets are formulated with the active participation of all affected employees
A. Team
B. Financial
C. Shared
D. Participative

33) A _____ gives the expected sales under a given set of conditions.