Question 1

Most budgets overestimate expenses and underestimate revenues.

Accepted Answer

A) True 
 B)False

Question 2

Firms desiring to closely control costs generally use short budgetary periods.

Accepted Answer

A) True 
 B)False

Question 3

A budget:

Accepted Answer

A) Is required by the I.R.S. 
B) Is simply a management tool. 
C) Is required by the S.E.C. 
D) All of these. 
E) None of these. 
A) Is required by the I.R.S. 
B) Is simply a management tool. 
C) Is required by the S.E.C. 
D) All of these. 
E) None of these.

Question 4

Which of the following statements is true?

Accepted Answer

A) Sales budgets can become self-fulfilling prophecies. 
B) The sales budget is the key budget. 
C) The sales budget is used by production as its guide to production. 
D) All of these. 
E) None of these. 
A) Sales budgets can become self-fulfilling prophecies. 
B) The sales budget is the key budget. 
C) The sales budget is used by production as its guide to production. 
D) All of these. 
E) None of these.

Question 5

Which of the following is likely to endanger the accuracy of a sales forecast made one year in advance?

Accepted Answer

A) A competitor's improved product makes our's technologically obsolete during that year. 
B) A change in our company management resulted in changes in our strategic marketing plans during the year. 
C) The consumers' buying psychology during the year fulfilled our predictions. 
D) All of these contribute to inaccuracy. 
E) Only two of A-B-C are likely to throw our forecast into error. 
A) A competitor's improved product makes our's technologically obsolete during that year. 
B) A change in our company management resulted in changes in our strategic marketing plans during the year. 
C) The consumers' buying psychology during the year fulfilled our predictions. 
D) All of these contribute to inaccuracy. 
E) Only two of A-B-C are likely to throw our forecast into error.

Question 6

Retailers are not willing to share their scanner data with suppliers.

Accepted Answer

A) True 
 B)False

Question 7

Freight carloadings is a basic market factor underlying the sales of steel.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements is wrong?

Accepted Answer

A) The cash budget and the profit and loss budget are the same. 
B) Everything starts with the production budget. 
C) Time lags are factored out of the budgets. 
D) All of these are wrong. 
E) None of these is wrong. 
A) The cash budget and the profit and loss budget are the same. 
B) Everything starts with the production budget. 
C) Time lags are factored out of the budgets. 
D) All of these are wrong. 
E) None of these is wrong.

Question 9

An annual (rather than quarterly)budget period is most likely to be used in a company that:

Accepted Answer

A) Wants considerable flexibility in its budget. 
B) Wants very close control over its operations. 
C) Has seasonal production and marketing cycles. 
D) Wants to minimize the time and detail that goes into the budgeting process. 
E) Anticipates there will be some unforeseen developments during the year. 
A) Wants considerable flexibility in its budget. 
B) Wants very close control over its operations. 
C) Has seasonal production and marketing cycles. 
D) Wants to minimize the time and detail that goes into the budgeting process. 
E) Anticipates there will be some unforeseen developments during the year.

Most budgets overestimate expenses and underestimate revenues.

Firms desiring to closely control costs generally use short budgetary periods.

A budget:

Which of the following statements is true?

Which of the following is likely to endanger the accuracy of a sales forecast made one year in advance?

Retailers are not willing to share their scanner data with suppliers.

Freight carloadings is a basic market factor underlying the sales of steel.

Which of the following statements is wrong?

An annual (rather than quarterly)budget period is most likely to be used in a company that:

The Field of Sales Force Management

Strategic Sales Force Management

Personal Selling Process

Sales Force Organization

Profiling and Recruiting Salespeople

Selecting and Hiring Applicants

Developing, Delivering, and Reinforcing a Sales Training Program

Motivating a Sales Force

Sales Force Compensation

Sales Force Quotas Expenses

Leadership of a Sales Force

Sales Territories

Analysis of Sales Volume

Marketing Cost and Profitability Analysis

Evaluating a Salespersons Performance

Ethical and Legal Responsibilities of Sales Managers

Filters

Exam 12: Sales Forecasting and Developing Budgets

Most budgets overestimate expenses and underestimate revenues.

Firms desiring to closely control costs generally use short budgetary periods.

A budget:

Which of the following statements is true?

Which of the following is likely to endanger the accuracy of a sales forecast made one year in advance?

Retailers are not willing to share their scanner data with suppliers.

Freight carloadings is a basic market factor underlying the sales of steel.

Which of the following statements is wrong?

An annual (rather than quarterly)budget period is most likely to be used in a company that:

The Field of Sales Force Management

Strategic Sales Force Management

Personal Selling Process

Sales Force Organization

Profiling and Recruiting Salespeople

Selecting and Hiring Applicants

Developing, Delivering, and Reinforcing a Sales Training Program

Motivating a Sales Force

Sales Force Compensation

Sales Force Quotas Expenses

Leadership of a Sales Force

Sales Territories

Analysis of Sales Volume

Marketing Cost and Profitability Analysis

Evaluating a Salespersons Performance

Ethical and Legal Responsibilities of Sales Managers

Filters