QUESTION 4 Performance based budgeting inks inputs to measurement of outputs True False. None of these I do not know Save Answer QUESTION 5 Which one is not the stage of budget process Preparation Approval Research Execution Save Answer QUESTION 6 The prudent man rule is the same as prudent investor nule Board members cannot be ordinarily held responsible for investment loss. To include the entire portiolio. Lof the above OOO bo00 200

QUESTION 4 Performance based budgeting inks inputs to measurement of outputs True False. None of these I do not know Save Answer QUESTION 5 Which one is not the stage of budget process Preparation Approval Research Execution Save Answer QUESTION 6 The prudent man rule is the same as prudent investor nule Board members cannot be ordinarily held responsible for investment loss. To include the entire portiolio. Lof the above OOO bo00 200

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter12: Corporate Valuation And Financial Planning

Section: Chapter Questions

Problem 6Q: Suppose a firm makes the following policy changes listed. If a change means that external,...

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In respect to GASB, how important is budgeting? O a. Very Important O b. Not at all - all about the profits King Oc. C. Od. Important O e. moderately important
2 Which of the following items does not follow from the adoption of a budget? a. Deterrent to waste b. Basis for performance evaluation c Guarantee of accomplishing the profit objective d. Promote efficiency
4.
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R4 Assignment Saved Outdoor Outfitters has created a flexible budget for the 70,000-unit and the 80,000-unit levels of activity shown as follows. Complete Outdoor Outfitters's flexible budget at the 107,000-unit level of activity. Assume that the cost of goods sold and variable operating expenses vary directly with sales and that income taxes remain at 30 percent of operating income. 70,000 Units 80,000 Units 107,000 Units $ 1,400,000 $ 1,600,000 960,000 Sales Ask Cost of goods sold 840,000 Gross profit on sales 2$ 560,000 $ 640,000 Operating expenses ($90,000 fixed) 370,000 190,000 $ 410,000 Operating income Income taxes (30% of operating income) 230,000 57,000 69,000 Net income 133,000 $ 161,000 Mc Graw Hill
Think It Through: Errors in a Budgeted Balance Sheet E openstax" Which error has the potential to cause more problems with the budgeted balance sheet: overstating sales or understating the cash collected?
10. ________ true or false One of the major advantages of budgeting is that it forces managers to look to the future.
38 Which of the following is FALSE on different approaches of budgeting? Review Later O In value proposition budgeting, a value proposition has to be made for each line item on the income statement to justify why it should be included in the budget. Activity based budgeting may lead to budgeting slack and a manager may overshoot the size of the budget. Zero-based budgeting is time consuming and best suited for discretionary costs (non-essential operating costs) Incremental budgeting takes previous years' budget and add or subtract a certain percentage from it to make the new year's budget.
Which of the following is not a part of budgeting?A. planningB. finding bottlenecksC. providing performance evaluationsD. preventing net operating losses
indicate yes if it describes a potential benefit of budgeting orno if it describes a potential negative outcome of budgeting. Budgets are useful in assigning blame for unexpected results.
Knowledge Check 01 Which of the following is not a benefit of self-imposed budgets?
Which method of budgeting was developed in the 1970s to control spending? Group of answer choices Entrepreneurial Program Zero-based Objective and Task