ACC 380 Quiz Q1

For which funds are budgetary comparison schedules or statements requires?

Budget comparison schedules or statements are needed for which funds? Should the budgetary comparison schedules' real revenues and expenditures be presented in accordance with GAAP? Why are you or are you not?

Briefly tell how Program Based Budgeting (PBB) interface with the GIFMIS?

Item 1 Which of the following is a budget used to project cash flow and likely cash shortfalls and/or surpluses? Multiple Choice Financing budget Master budget Rolling budget Operational budget Capital budget

When justifying a budget request (in narrative form), which of the following should be included in the request? Select all that apply.   What you want to do   Budget request counterarguments   Why you want to do it   A list of required resources

(CMA adapted) The process of creating a financial plan of the revenues and resources needed to carry out activities and meet financial goals is referred to as: Group of answer choices budgeting. benchmarking. cost - benefit analysis. value - added analysis.

Proprietary funds:   Multiple Choice   Can be required to operate under a legally adopted budget.   Are required to present budgetary comparison schedules. More than one statement above is true. Are required to integrate budgetary accounts into their accounting system.

Explain how cash flows are esrimated for captial budgeting. What are sunk costs and opportunity costs, and how should they be handled in identifying the projects relevant cash flows?

Define each of the following terms:f. Cash budget; target cash balance

In which section of the CAFR are the budget-to-actual comparisons of the major funds located? What accounting basis is used?

Which of the following is part of the budget preparation process EXCEPT? a) Available resources b) Budget scope c) Budget format to be used d) Credit lines available

How you direct and coordinate a  budgeting process ?

Which of the operating budgets is prepared first? Group of answer choices C. cash received budget D. cash payments budget A. production budget B. sales budget

for which funds are budgetary comparison schedules or statements required? should the actual revenues and expenditureson the budgetary comparison schedules be reported on the GAAP basis?  why or why not?