ACC561 10 Final Questions A+ Work-7 - 23039

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

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

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

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

35) 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. none of these answers is correct
B. 10,000 and 20,000 units, respectively
C. 11,000 and 22,000 units, respectively
D. 11,000 and 24,000 units, respectively

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

37) _____ probably would not be used as a measure of activity in a flexible budget.
A. Number of hours worked by salespeople
B. Sales volume
C. Number of direct labor hours worked
D. Number of machine hours used

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

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


40) Costs are allocated for all the following purposes except to _____.
A. compute income and asset valuation
B. determine inventory levels
C. predict the economic effects of planning and control decisions
D. obtain reimbursement


Solution Description

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

32) A _____ gives the expected sales under a given set of conditions.
A. sales forecast
B. sales prediction
C. sal