Question : MULTIPLE CHOICE. Choose the one alternative that best completes the statement : 1196256

MULTIPLE CHOICE.

Choose the one alternative that best completes the statement or answers the question. 21) Planning the performance of the organization, providing a frame of reference, and investigating variances are part of the 21) ______ A) master budget. B) cash budget. C) budgetary cycle. D) production budget. E) financing budget.

22) The master budget embraces the impact of 22) ______ A) financing and managerial decisions. B) operating and financing decisions. C) operating, managerial, and financing decisions. D) the differences between the budget and the actual costs, for a given cycle. E) operating and managerial decisions.

23) Budgets are sometimes referred to as all of the following EXCEPT 23) ______ A) targeting. B) pro forma statements. C) cash flow statements. D) historical records. E) profit plans.

24) Budgets are advantageous because they 24) ______ A) provide performance criteria, promote goodwill, and save money. B) ensure that the organization meets its goals. C) compel planning that includes the implementation of plans, require organizing, and ensure controlling. D) compel planning that includes the implementation of plans, provide performance criteria, and promote goodwill. E) compel planning that includes the implementation of plans, provide performance criteria, and promote communication and coordination within the organization.

25) Strategic Analysis includes all of the following EXCEPT 25) ______ A) organizational and financial structures of the company. B) possible trends that may affect the company’s markets. C) planning and control of the budget. D) the overall objectives of the organization. E) contingency plans.

26) The process of getting a company’s objectives understood and accepted by all departments and functions is known as: 26) ______ A) compilation B) communication C) administration D) continuity E) coordination

27) Clare’s Bears manufactures stuffed bears. The company updates it annual budget every month in order to force management to think about the forthcoming 12 months and not just the current budget.

This is an example of a 27) ______ A) timing budget. B) moving budget. C) target budget. D) master budget. E) rolling budget.

28) The financial budget is that part of the master budget that comprises 28) ______ A) the cash budget, capital budget budgeted income statement and budgeted statement of cash flows. B) the cash budget, the budgeted statement of cash flows, and the retained earnings budget. C) the capital budget, the cash budget, budgeted balance sheet, and the budgeted statement of cash flows. D) the capital budget and the cash budget. E) the capital budget and the budgeted balance sheet.

29) The first three steps to follow when preparing the operating budget are 29) ______ A) revenue budget, costs of goods sold budget, and production budget. B) revenue budget, overhead budget, and production budget. C) revenue budget, cash inflows, and production expenditures. D) costs of goods sold budget, production budget, and cash budget. E) revenue budget, production budget, and direct materials purchases and usage budget.

30) A production budget expressed in units is equal to 30) ______ A) budgeted sales less beginning finished goods inventory plus targeted ending finished goods inventory. B) last year’s sales plus beginning finished goods inventory plus targeted ending finished goods inventory. C) budgeted sales plus beginning finished goods inventory plus targeted ending finished goods inventory. D) budgeted sales plus beginning finished goods inventory less targeted ending finished goods inventory. E) budgeted sales less beginning finished goods inventory less targeted ending finished goods inventory.