Revision of a completed and approved budget: Multiple Choice) Should be conducted whenever actual events differ significantly from those envisioned when the budget was prepared. Reduces employee commitment to achieve budgeted performance. May discourage diligence in its initial preparation. Should be discouraged Is never needed under Kaizen budgeting

Revision of a completed and approved budget: Multiple Choice) Should be conducted whenever actual events differ significantly from those envisioned when the budget was prepared. Reduces employee commitment to achieve budgeted performance. May discourage diligence in its initial preparation. Should be discouraged Is never needed under Kaizen budgeting

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What are the two main activities involved in budgeting? Detailing No answer text provided. Preparing Decision Making Post-evaluation No answer text provided. Planning Controlling
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"Budgetary slack" occurs when: Employees refuse to adhere to budgeted plans and operations. The budget is so difficult to meet that employees slack-off from work. An authoritative, or imposed, budgeting process is used. To "meet" budget objectives, employees ask for resources in excess of what they need. Employees ask for fewer resources than they need, in order to continuously improve.
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Can you please answer those 2 questions and provide appropriate answers? thank you for your answers. 1. Flexible budgets are used during which stage of the management process? * Planning Organizing Implementing Controlling Evaluation 2. What kind of variance results from a difference between the planning budget and the flexible budget ? * Spending Activity Pre-determined Evaluation none of the above
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