Question 1

The statement relating to a budget that is not true is:

Accepted Answer

A) It is a detailed plan 
B) It is a management tool 
C) It provides many of the performance targets used in responsibility accounting 
D) It is prepared on an historical basis 
A) It is a detailed plan 
B) It is a management tool 
C) It provides many of the performance targets used in responsibility accounting 
D) It is prepared on an historical basis

Question 2

The following information was reported in the cash budget:
$\begin{array}{lc}
\text { Beginning cash balance } & \$ 28,000 \
\text { Cash disbursements } & 51,000 \
\text { Cash receipt } & 37,000 \
\text { Minimum cash balance required } & 20,000
\end{array}$
How much cash will the company have to borrow in order to meet its required needs?

Accepted Answer

A) $0 
B) $34,000 
C) $22,000 
D) $6,000 
A) $0 
B) $34,000 
C) $22,000 
D) $6,000

Question 3

Budgets that give details of the income and costs of projected activities needed to achieve satisfactory profit results are known as:

Accepted Answer

A) financial budgets 
B) master budgets 
C) operating budgets 
D) cash budgets 
A) financial budgets 
B) master budgets 
C) operating budgets 
D) cash budgets

The statement relating to a budget that is not true is:

The following information was reported in the cash budget: Beginning cash balance \ 28,000 Cash disbursements 51,000 Cash receipt 37,000 Minimum cash balance required 20,000 How much cash will the company have to borrow in order to meet its required needs?

Budgets that give details of the income and costs of projected activities needed to achieve satisfactory profit results are known as:

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Recording Transactions

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Internal Control

Cost-Volume-Profit Analysis for Decision Making

Performance Evaluation for Managers

Differential Analysis,profitability Analysis and Capital Budgeting

Partnerships: Formation,operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation,disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Liabilities

Analysis and Interpretation of Financial Statements

Filters

Exam 12: Budgeting for Planning and Control

The statement relating to a budget that is not true is:

The following information was reported in the cash budget: Beginning cash balance \ 28,000 Cash disbursements 51,000 Cash receipt 37,000 Minimum cash balance required 20,000 How much cash will the company have to borrow in order to meet its required needs?

Budgets that give details of the income and costs of projected activities needed to achieve satisfactory profit results are known as:

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Recording Transactions

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Internal Control

Cost-Volume-Profit Analysis for Decision Making

Performance Evaluation for Managers

Differential Analysis,profitability Analysis and Capital Budgeting

Partnerships: Formation,operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation,disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Liabilities

Analysis and Interpretation of Financial Statements

Filters