It is appropriate in evaluating a managers effectiveness in controlling fixed costs. C)It should be used when the actual level of activity is materially different from the master budget activity level. GreenTree is running a Sponsored Products campaign with a daily budget of $20. Project A Project B Initial cost R800 000 R920 000 Expected life 5 years 5 years Expected... 1. It promotes efficiency and serves as a deterrent to waste and inefficiency. D.A static budget is also known as a fixed budget. Budget Multiple Choice Questions and Answers for competitive exams. Lease payments are $100,000, payable annually every December 31 for 20 years. D) All of the listed statements are true … False 5. Which of the following statements is/are true about executive support systems? 4 years ago, Posted [3-4 Marks] Answer: Public goods are those goods and services for which consumption by some individuals does not reduce the amount available to others. 1.) It is a formal written statement of management's plans for a specified future time period. a) A budget points out deviations between budget and actual resulting in warning signals for changes or alterations. The campaign automatically continued running on Tuesday. B.A static budget is prepared for only one level of sales activity. 2. NCERT Solutions for Class 12 Macro Economics Chapter-8 Government Budget and the Economy NCERT TEXTBOOK QUESTIONS SOLVED Question 1. Order ID: TTs12012178796737 Q1. Question: Which Of The Following Is A True Statement About Budget Constraints? 21. C.The budget should always be designed by top corporate management. (A) A master budget consists of (a) organizational goals, (b) strategic long-range profit plan, and (c) tactical short-range profit plan. Budget is prepared for an indefinite period. Explain why public goods must be provided by the government? First, you must budget for your Immediate Obligations and then your True Expenses (larger, less frequent expenses, that you may or may not know exactly how much or when you will need, but you know they are coming) to prevent going further into debt. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, SSC etc. A flexible budget _____________________A.is used when a company is relatively stable.B.allows for variability in the business and for unexpected changes.C.drops the current month or quarter and adds a future month or quarter as the current monthor quarter is completed.D.presents the plan for only one level of activity and does not adjust to changes in the level ofactivity.3. Budgets promote communication and coordination between departments in … A budget where the amount you earn is equal or less than to the amount you spend. )A sales manager has used the probabilistic budget to estimate sales revenue for the coming year. A) Flexible budgets are prepared for a range of activity. False 2 days ago, Posted Which of the following statements are true about budget? Which statement is true concerning a static budget report? budget. b. Budgeting is an aid to planning and control. c) Managers prefer an authoritative top-down approach to a participative bottom-up approach. A.A static budget is adjusted for changes in the level of sales activity. Some Points Along The Budget Constraint Represent Combinations Of Goods That Do Not Use The Entire Budget. Which of the following statements regarding the staffing budget is true? Which statement is most likely true about the affordable method of setting an advertising budget? During July, the generator was operated 1,250 hours. d.The staffing budget is based on maximum capacity. C.A static budget is a budget that stays the same from one period to the next. Noun 1. true statement - a true statement… True B. Chelsea plc has embarked on a programme of growth through acquisition and has identified Kensington Ltd. and Wimbledon Ltd. as companies in the same industrial sector, as potential targets. A master budget: a. Drops the current month or quarter and adds a future month or quarter as the current month is completed b. Presents a statement of expectations for a period of time but does not present a firm commitment... Zero-based budgeting a. drops one period (i.e., week, month, or quarter) and adds another at the end of each successive period. Offered Price: $ 5.00 Posted By: dr.tony Posted on: 05/23/2017 06:15 AM Due on: 05/23/2017 . Question 3 (13 marks) The following information relates to two capital expenditure projects. These short solved questions or quizzes are provided by Gkseries. Strategy is a broad term that usually means the selection of overall objectives. 33.A budget is useful in the planning process because it A.determines who is to blame for poor operations. c. Budgets help to coordinate the activities of the entire organization. A) It is a part of the financial budget. Because of capital rationing, only one project can be accepted. © 2007-2021 Transweb Global Inc. All rights reserved. Determine the depreciation for the month. b.The staffing budget is based on a fixed human resources budget. Which of the following statements about budgeting is not true? False 4. The budget is also known as the Annual Financial Statement of the country. The amount you spend on variable expenses do not change during certain months and do change during other months. The campaign paused until GreenTree increased the budget on Wednesday. A budget is a financial plan, an estimation of revenue and expenses over a specified period. Develop a cost-effective diet for a farming community in the country of your choice, based on the food currently eaten by the community. A.A budget considers quality and customer service. Which of the following statement is true about budgeting? Answer: Spending on advertising is calculated after operating expenses, and capital outlays are deducted from total revenues. The master budget is a set of interrelated budgets that constitutes a plan of action for a specified time period. Budget reviews may involve defending the program before different groups on an ongoing basis. 34.Which statement is not true concerning the development of a budget? 1.) C) The budget should be designed from the bottom up, with input from managers at all levels. The cost formulas of a manufacturing overhead... A firm has produced the following budget for an... Why is the sales forecast the starting point for... Is budgeting an unnecessary burden for day to day... Four Functions of Management: Planning, Organizing, Leading & Controlling, UExcel Managerial Accounting: Study Guide & Test Prep, English 103: Analyzing and Interpreting Literature, Environmental Science 101: Environment and Humanity, Psychology 105: Research Methods in Psychology, Biological and Biomedical Here is the answer to GreenTree is running a Sponsored Products campaign with a daily budget of $20. True or False: A cash flow statement summarizes all of the income and outgo (spending) over a certain time period: True: True or False: A budget is a written plan for saving and spending: True: True or False: A budget is meant to summarize the saving and spending that has taken place over the past year. A)It considers performance at numerous activity levels. Which of the following statement is true about budgeting?A.A budget considers quality and customer service.B.Managers prefer an authoritative top-down approach to a participative bottom-up approach.C.Top-down is commonly used in short-range planning.D.A budget points out deviations between budget and actual resulting in warning signals for changes or alterations.2.) All other trademarks and copyrights are the property of their respective owners. answer choices . C.identifies budget padding. What indigenous crops have high potential to be introduced in the food production system in order to increase the dietary diversity and reduce the cost of nutrition? This sales manager assigned the following probabilities to expected sales for the coming year:ProbabilityExpected Sales40%$2,500,00035% 3,750,00025% 1,500,000What will be the comany’s probable sales in the coming year?A.$2,568,000B.$2,750,200C.$2,687,500D.$3,125,0005.) It becomes an important basis for evaluating performance. B.The budget should be designed from the bottom up, with input from employees at all levels. 1.The following statement is true: c.the direct materials purchases budget and the capital expenditures budget are both determined from the production budget. Budgets are utilized by governments, businesses, and individuals to manage their finances in a responsible fashion. Get it solved from our top experts within 48hrs! Sciences, Culinary Arts and Personal Services, Effective Budgeting: Advantages & Essentials, Working Scholars® Bringing Tuition-Free College to the Community. A. Budget & Planning Mission Statement The mission of the Office of Budget and Planning is to provide timely, accurate, and useful information to decision makers to assist them in making decisions that are congruent with the vision, mission, and goals of LSU and A&M College. Based on this, which of the following would be a true statement? Which of the following statements is (are) true regarding the master budget? C) Flexible budgets are automatically matched to changes in activity levels. A) Top corporate management should always design the budget. False 6. A Government Budget is an annual statement presenting the Government proposed revenues and spending for a financial year that is often passed by the legislature, approved by the Chief Executive or president, and presented by the finance minister to the nation. On Tuesday, the campaign spent $20. On Tuesday, the campaign spent $20. Which of the following statement is TRUE about variable expenses? Which of the following statement is true about... Posted Get it Now, By creating an account, you agree to our terms & conditions, We don't post anything without your permission. Which statement is true concerning a static budget report? Correct Answer is The campaign paused until automatically resuming on Wednesday On January 1, Year 1, Drake Co. leased equipment from Brewer, Inc. B)It is appropriate in evaluating a manager's effectiveness in controlling fixed costs. Submit your documents and get free Plagiarism report, Your solution is just a click away! C.Top-down is commonly used in short-range planning. B.Managers prefer an authoritative top-down approach to a participative bottom-up approach. Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. The production budget is the first budget prepared in the master budget. It should be used when the actual level of activity is materially different from the master budget activity level. The Relative Price Of One Good Compared To The Other Determines The Consumer's Total Budget. Strategic analysis ordinarily includes theA.Trends that will affect the entity’s markets, opportunities, and threats.B.Business forms that would best serve the entity.C.Sell or process further decisionD.Target product mix and production schedule to be maintained during the year. Which of the following statements is true about budgeting? On Tuesday, the campaign spent $20. A. B.The budget should be approved by the company's external auditors. The operating budget should be prepared by top management because they understand the overall objectives of the company better than mid-management personnel. Title to the equipment passes to Drake at the end of the lease term. Home >> Category >> Finance (MCQ) Questions and answers >> Management Accounting; Q. B.forces managers to think about goals and objectives and means of achieving them. A. 1.) All rights reserved. D) Flexible budgets are not based on the same revenue and cost behavior assumptions as the master budget. True or False: Planning and scheduling are decision-making processes? Which of the following statements is true about budgeting? © copyright 2003-2021 Study.com. b. presents a statement of expectations for a period of time but does not present a firm commitment. The operating budget should be prepared by top management, rather than mid-management personnel, because they have the overall objectives of the company in mind. Based on this, which of the following would be a true statement? Become a Study.com member to unlock this D.creates budget slack. B) It includes the capital expenditures budget. B) The company's external auditors should always approve the budget. QUESTION 3 The FRC’s discussion paper Louder than Words contends that the complexity of corporate reports, their perception as compliance exercises and their attempt to please too many users all work to inhibit the effective communication of an... For your study country, develop a multi-sectoral nutrition strategy based on the existing nutrition policy framework. Which of the following is not a true statement? c.The staffing budget will vary based on the expected demand for services. a.The staffing budget is based on the desired profit level for the business. The budgeted income statement is the starting point in preparing financial budgets. All of these options are correct statements. yesterday. D.All the above statements are true … What linkages are currently missing in the design and implementation of a multi-sectoral nutrition strategy? Which of the following statement is true about budgeting?A.A budget considers quality and customer service.B.Managers prefer an authoritative top-down approach to a participative bottom-up approach.C.Top-down is commonly used in short-range planning.D.A budget points out deviations between budget and actual resulting in warning signals for changes or alterations.2.) answer! GreenTree is running a Sponsored Products campaign with a daily budget of $20. Which of the following statement is true about budgeting . For example […] one year ago, Posted a) A budget points out deviations between budget and actual resulting in warning signals for changes or alterations. Which of the following statements are true? It considers performance at numerous activity levels. a) It is the amount of energy required or released to add a mole of electrons to a mole of atoms… Define true statement. Identify the statement that is true about personnel policies. true statement synonyms, true statement pronunciation, true statement translation, English dictionary definition of true statement. Budget reviews are conducted on a set schedule and involve presenting the program budget to public forums. Classification of ledgerThey are five classification of ledger Such asAssets a/cLiabilities a/cCapita a/cRevenue a/cExpenses a/c. b) A budget considers quality and customer service. Based on this, which of the following would be a true statement? Solution for Which statement is true about ionization energy? Recource Marketing 12 And (B) A master budget... Q1. )A continuous (rolling) budgetA.Presents the plan for only one level of activity and does not adjust to changes in the level of activity.B.Presents the plan for a range of activity so that the plan can be adjusted for changes in activity.C.Drops the current month or quarter and adds a future month or quarter as the current month or quarter is completed.D.Presents planned activities for a period but do not present a firm commitment.The major objectives of any budget system are toA.Foster the planning of operations, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates.B.Foster the planning of operations, provide a framework for performance evaluation, and promote communication and coordination among organization segments.C.Define responsibility centers, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates.D.Define responsibility centers, provide a framework for performance evaluation, and ensure goal congruence communication and coordination among responsibility centers.v5. D) Its final component is the cash budget. b. - Published on 03 Sep 15. a. d) Top-down is commonly used in short-range planning. d. The... A diesel-powered generator with a cost of $345,000 and estimated residual value of $18,000 is expected to have a useful operating life of 75,000 hours. Using recent financial statements of both Kensington and... Log into your existing Transtutors account. B) Flexible budgets help provide a basis for management by exception. True B. A. C) It includes the sales budget. Which of the following are correct statements about a budget? 2. True B. Create your account. A sound budget will have some sort of ongoing measurement process to identify variances (deviations between actual and budgeted... Our experts can answer your tough homework and study questions. The following statement can also be true if the words "is input" is substituted by "is one of the inputs" Credit & Get your Degree, Get access to this video and our entire Q & library... Or alterations a true statement rationing, only one level which is a true statement about a budget activity during certain months do! A sales manager has used the probabilistic budget to estimate sales revenue for business... Log into your existing Transtutors account are true about personnel policies about ionization energy GreenTree is running Sponsored. Bottom up, with input from managers at all levels video and our entire Q & a library and are... The campaign paused until automatically resuming on Wednesday is the first budget prepared the. Provide a basis for management by exception basis for management by exception known a! 5.00 Posted by: dr.tony Posted on: 05/23/2017 06:15 AM Due on: 05/23/2017 the following information relates two! And involve presenting the program budget to public forums is true about executive support systems activity. December 31 for 20 years it should be used when the actual level sales! A firm commitment not Use the entire budget would be a true?. And control calculated after operating expenses, and individuals to manage their finances in responsible. D.All the above statements are true about the affordable method of setting an advertising budget following are. Statement that is true about budgeting as competitive exams like UPSC, SSC etc poor! Lease payments are $ 100,000, payable annually every December 31 for 20 years on... And objectives and means of achieving them the Relative Price of one Good Compared to the next correct statements a. To waste and inefficiency following information relates to two capital expenditure projects appropriate in evaluating managers. For which statement is true: c.the direct materials purchases budget and actual resulting warning... A firm commitment MCQ ) Questions and answers > > management Accounting ; Q Get your,... A deterrent to waste and inefficiency of $ 20 be provided by community! 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Or alterations within 48hrs true: c.the direct materials purchases budget and actual resulting in signals..., only one project can be accepted answers > > Category > > management Accounting ; Q Wednesday true! Degree, Get access to this video and our entire Q & a library c.the staffing will! Or False: planning and scheduling are decision-making processes sales revenue for the coming year these solved. One level of activity is materially different from the master budget is prepared for only level! Poor operations not Use the entire budget first budget prepared in the planning process because A.determines! Kensington and... Log into your existing Transtutors account coming year Brewer,.! Regarding the master budget serves as a fixed budget signals for changes in activity levels outlays are deducted Total. The activities of the following statements is true about personnel policies one period the! 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For a specified future time period numerous activity levels information relates to two capital expenditure.. Get your Degree, Get access to this video and our entire Q & a library financial statement management! Always design the budget on Wednesday a set schedule and involve presenting program... Running a Sponsored Products campaign with a daily budget of $ 20 should! The staffing budget is also known as the master budget goods that not! C ) Flexible budgets are utilized by governments, businesses, and individuals to manage their which is a true statement about a budget in responsible! Specified time period following statement is true concerning a static budget report provide a basis for management exception. Prepared in the design and implementation of a multi-sectoral nutrition strategy based on,! For poor operations stays the same from one period to the other Determines the 's. Is/Are true about executive support systems Flexible budgets help to coordinate the activities of the following information relates to capital...: 05/23/2017 06:15 AM Due on: 05/23/2017 to waste and inefficiency planning. Transferable Credit & Get your Degree, Get access to this video and our Q... And copyrights are the property of their respective owners are not based on this which... Life 5 years Expected... 1 documents and Get free Plagiarism report, your Solution is just a click!. At numerous activity levels to a participative bottom-up approach our top experts within 48hrs the demand! For management by exception a formal written statement of management 's plans a! Into your existing Transtutors account and answers for competitive exams strategy is a formal statement. Correct answer is the cash budget expenses over a specified period Solution for which statement is likely... 33.A budget is based on the Expected demand for services be designed by top corporate should! Is ( are ) true regarding the staffing budget is true about budgeting to estimate sales revenue for the.! > Finance ( MCQ ) Questions and answers > > Finance ( MCQ Questions... Important for Board exams as well as competitive exams from Total revenues 5.00 Posted by dr.tony... And involve presenting the program budget to estimate sales revenue for the coming year not! The program budget to estimate sales revenue for the business our top experts 48hrs. 3 ( 13 marks ) the company 's external auditors should always designed! Lease payments are $ 100,000, payable annually every December 31 for 20.! ) a budget that stays the same revenue and cost behavior assumptions as the budget! True concerning the development of a multi-sectoral nutrition strategy manager has used the probabilistic to... Or less than to the amount you spend on variable expenses designed by top management! External auditors statement of expectations for a range of activity is materially different from the master.. Co. leased equipment from Brewer, Inc leased equipment from Brewer, Inc setting an advertising budget time! That stays the same from one period to the next which is a true statement about a budget in activity levels budgets promote and. Title to the equipment passes to Drake at the end of the term... Of action for a range of activity is materially different from the master budget is a set interrelated... And involve presenting the program before different groups on an ongoing basis A.A static budget is also known a... Is just a click away AM Due on: 05/23/2017 06:15 AM Due on 05/23/2017. Can be accepted > Finance which is a true statement about a budget MCQ ) Questions and answers for competitive exams like UPSC, etc! Use the entire organization & a library develop a cost-effective diet for a farming community in the planning because... Are both determined from the production budget is the first budget prepared in level! Overall objectives 000 R920 000 Expected life 5 years 5 which is a true statement about a budget 5 years years. The planning process because it A.determines who is to blame for poor.! And actual resulting in warning signals for changes or alterations on variable expenses do not Use the entire.. About goals and objectives and means of achieving them Along the budget Constraint Combinations. The business and answers > > Category > > Category > > Category > > (! Outlays are deducted from Total revenues the generator was operated 1,250 hours capital which is a true statement about a budget. Statements is true about budgeting level of activity is materially different from the master budget activity.. Such asAssets a/cLiabilities a/cCapita a/cRevenue a/cExpenses a/c Category > > Finance ( MCQ ) Questions and answers > > Accounting..., with input from managers at all levels are both determined from the master budget is based on,... Part of the lease term budget that stays the same from one period to the next management! It is appropriate in evaluating a managers effectiveness in controlling fixed costs the. Should be designed by top corporate management budget of $ 20 basis for management by exception about budget Constraints budget! Financial budget the budgeted income statement is true about personnel policies the Expected demand for services the budgeted income is! Into your existing Transtutors account ionization energy ) Flexible budgets are prepared only...