Which of the following statements about budgets is NOT true? A. Budgets help coordinate activity throughout the entity. B. Budgets help individuals throughout the entity to see how their efforts contribute toward the entity's strategic objectives. C. Budgets operationalise the strategic plan. D. Budgets usually span the entire strategic planning period

Which of the following statement is incorrect?Select one:a. Budgets help managers tailor their operations to meet their financial goals.b. Budgeting is a numerical tool that help managers reach the financial goals in their business plans.c. A budget is a useful planning tool for businesses only.d. Budgeting is a financial plan for a defined period, often one year

Budgets must link ________ to objectives, so budgeting is a tactical implementation of the ________.Strategies, business planOperations, business planBusiness plan, operation planStrategies, operation plan

Which of the following statements regarding the participative style of budgeting is not true? A. The targets and budgets are prepared after negotiations between senior management and department managers. B. Department managers do not have ownership of the targets and budgets. C. Provides department managers with an opportunity to create some 'room to move'. D. Often results in targets that are easier to achieve.

44. Which of the following statements is true? a. A fixed budget is a budget that remains the same from one accounting period to the b. next c. A fixed budget is produced for one product for different levels of activity d. A fixed budget is useful when comparing budget figures with actual figures 45 Which of the following is an NOT an advantage of top‐down budgeting? a. It is less time consuming b. It reduces budgetary slack c. It is more likely to motivate managers d. Budgets will be closer to the company’s objectives 46 Which of the following is a disadvantage of participation in standard setting? a. Morale and performance are suppressed b. Staff may try to incorporate budget padding c. Decision making will not improve d. Budget requirements are not clearly communicated to staff 47 Which of the following are elements of a mission statement? (i) Purpose (ii) Strategy (iii) Values (iv) Culture a. All of them b. (i) and (ii) only c. (ii) only d. (ii) and (iv) only 48 Which of the following measures would not be appropriate for a cost center?. Cost per unit b. Contribution per unit c. Comparison of actual labor cost to budget labor cost d. Under or over absorption of overheads 49 Which of the following techniques would be useful for controlling costs? (i) Actual versus flexed budget (ii) Variance analysis (iii) Trend of costs analysis a. (i) and (ii) only b. (i) and (iii) only c. (ii) and (iii) only d. (i), (ii) and (iii) 50. Which of the following are primary data? (i) Information on timesheets used for making up wages (ii) Information from a government publication concerning forecast inflation rates used for budgeting (iii) Information from a trade publication used to choose a supplier of raw materials a. (i) and (ii) b. (i) and (iii) c. (i) only d. (i), (ii) and (iii) 51. Which of the following terms would not normally be used to describe a relevant cost for a decision? a. Incremental b. Future c. Material d. sunk cost 52.What is the name given to a budget which has been prepared by building on a previous period’s budgeted or actual figures? a. Incremental budget b. Flexible budget c. Zero based budget d. functional budget

All of the following are operating budgets except:Multiple choice question.production budgetsales budgetmerchandising budgetselling expenses budget