ACCT Test 2 chapter 9

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Test your knowledge on ACCT Test 2 concepts with this fun quiz!

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Melissa Davis

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ACCT Test 2 chapter 9


Froggy Jumps ACCT Test 2 chapter 9Online version Test your knowledge on ACCT Test 2 concepts with this fun quiz! by Melissa Davis 1 A rolling budget is a budget that a extends 5minus10 years into the future. b is continuously updated, so that the next 12 months of operations are always budgeted. c is executed by upper management. 2 Budgets are used to accomplish all of the following tasks, except a directing operations. b planning for the future. c recording actual results. 3 Which of the following is NOT a benefit of budgeting? a Budgeting provides a benchmark to help managers evaluate performance. b Budgeting forces managers to work in a silo, promoting only the goals of their department. c Budgeting provides a benchmark that motivates employees. 4 Which of the following is a potential disadvantage of participative budgeting? a Managers may build slack into the budget. b Lower-level managers feel vested in the company when they have a voice in budgeting. c Managers are more likely to be motivated by budgets they help create. 5 Most companies use ________ when the lower level management develops budgets each year. a participative budgeting b zero-based budgets c a top-down approach 6 The budget committee a usually is made up of the accounting staff. b usually is made up of managers from all areas of the value chain. c usually is made up of the Board of Directors. 7 A combined cash budget includes all of the following except a projected depreciation on retail store. b projected cash balance at the end of the month. c projected borrowings and repayments. 8 The ________ is a plan that shows the units to be sold and the projected selling price and is also the starting point in the budgeting process. a sales budget b cash budget c budgeted income statement 9 Which of the following alternatives reflects the proper order of preparing components of the comprehensive budget? 1. Production budget 2. Sales budget 3. Direct materials budget a 2, 3, 1 b 1, 3, 2 c 2, 1, 3 10 Which of the following is not included in the operating budget? a Budgeted income statement b Budgeted balance sheet c Direct labor budget 11 In preparing the operating budget, the first step is preparing the a sales budget. b cash budget. c purchases budget. 12 Strategic planning is beneficial because the organization can a establish long-term goals that extend 5-10 years into the future. b establish goals for next month. c execute directives from the board of directors. 13 "Combined cash budget" is best defined by which of the following? a A budget that projects assets, liabilities, and stockholders' equity at the end of a period b how thecompany expects to move out of the beginning cash balance&into the desired endingcashbalance c A system to evaluate the performance and manager of each responsibility center 14 Managers may intentionally build slack into the budget a to make their performance appear better & because they are uncertain about the future. b to acquire the resources they need in the event the organization implements a budget cut. c all the above are true 15 A manager considers all of the following when he or she prepares the cash budget except a depreciation expense b cash receipts from customers. c payments for inventory. 16 The ________ budget is a component in a financial budget. a sales b budgeted balance sheet c budgeted income statement 17 Which of the following statements about budgeting is not true? a Budgets help to coordinate the activities of the entire organization. b The operating budget should be prepared by top management rather than mid- management personnel c Budgets promote communication and coordination between departments in an organization. 18 Which of the following is an advantage of the budgeting process? a Coordinates the activities of the organization b Assures the company will achieve its objective c Guarantees that a profit will be achieved 19 A company should ________ when projecting cash receipts for a given month. a only list COD sales made in that month b only list credit sales made in that month c include cash to be collected in that month regardless of when the sale was made 20 The ________ budget is a component in a financial budget. a manufacturing overhead b capital expenditures c direct labor

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ACCT Test 2 chapter 9

Froggy Jumps

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ACCT Test 2 chapter 9Online version

by Melissa Davis

A rolling budget is a budget that

Budgets are used to accomplish all of the following tasks, except

Which of the following is NOT a benefit of budgeting?

Which of the following is a potential disadvantage of participative budgeting?

Most companies use ________ when the lower level management develops budgets each year.

The budget committee

A combined cash budget includes all of the following except

The ________ is a plan that shows the units to be sold and the projected selling price and is also the starting point in the budgeting process.

Which of the following alternatives reflects the proper order of preparing components of the comprehensive budget? 1. Production budget 2. Sales budget 3. Direct materials budget

Which of the following is not included in the operating budget?

In preparing the operating budget, the first step is preparing the

Strategic planning is beneficial because the organization can

"Combined cash budget" is best defined by which of the following?

Managers may intentionally build slack into the budget

A manager considers all of the following when he or she prepares the cash budget except

The ________ budget is a component in a financial budget.

Which of the following statements about budgeting is not true?

Which of the following is an advantage of the budgeting process?

A company should ________ when projecting cash receipts for a given month.

The ________ budget is a component in a financial budget.

ACCT Test 2 chapter 9

Froggy Jumps

About this activity

Created by

Download the paper version to play

Top Games

Froggy Jumps

The Integumentary System

Froggy Jumps

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Froggy Jumps

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Froggy Jumps

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Froggy Jumps

ACCT Test 2 chapter 9Online version

by Melissa Davis

A rolling budget is a budget that

Budgets are used to accomplish all of the following​ tasks, except

Which of the following is NOT a benefit of​ budgeting?

Which of the following is a potential disadvantage of participative​ budgeting?

Most companies use​ ________ when the lower level management develops budgets each year.

The budget committee

A combined cash budget includes all of the following except

The​ ________ is a plan that shows the units to be sold and the projected selling price and is also the starting point in the budgeting process.

Which of the following alternatives reflects the proper order of preparing components of the comprehensive​ budget? 1. Production budget 2. Sales budget 3. Direct materials budget

Which of the following is not included in the operating​ budget?

In preparing the operating​ budget, the first step is preparing the

Strategic planning is beneficial because the organization can

​"Combined cash​ budget" is best defined by which of the​ following?

Managers may intentionally build slack into the budget

A manager considers all of the following when he or she prepares the cash budget except

The​ ________ budget is a component in a financial budget.

Which of the following statements about budgeting is not ​true?

Which of the following is an advantage of the budgeting​ process?

A company should​ ________ when projecting cash receipts for a given month.

The​ ________ budget is a component in a financial budget.

Budgets are used to accomplish all of the following tasks, except

Which of the following is NOT a benefit of budgeting?

Which of the following is a potential disadvantage of participative budgeting?

Most companies use ________ when the lower level management develops budgets each year.

The ________ is a plan that shows the units to be sold and the projected selling price and is also the starting point in the budgeting process.

Which of the following alternatives reflects the proper order of preparing components of the comprehensive budget? 1. Production budget 2. Sales budget 3. Direct materials budget

Which of the following is not included in the operating budget?

In preparing the operating budget, the first step is preparing the

"Combined cash budget" is best defined by which of the following?

The ________ budget is a component in a financial budget.

Which of the following statements about budgeting is not true?

Which of the following is an advantage of the budgeting process?

A company should ________ when projecting cash receipts for a given month.

The ________ budget is a component in a financial budget.