Standards at times are referred to as:A. estimatesB. budgetsC. actualD. A&BE. all of these

The correct answer is:D. A & B Explanation:Standards are often referred to as estimates because…

Answered: Standards at times are referred to as:…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 5Q: What information is necessary for the operating budgets?

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Similar questions

Understand commonerrors made in preparingp erformance reports based on budgets and actual results.
What information is necessary for the operating budgets?
9. A pie chart requires at least what level of data? a. nominal b. ordinal c. interval d. ratio
Which one of the following is the incorrect statement regarding Budgets? Select one: a. Budget is qualitative statement of policy b. All are correct statement regarding budget. C. Budget is a predetermined statement d. Budget prepared for a defined period of time
What is the process for developing a budgeted balance sheet?
a) Weighted-Average b) FIFO
state the importance of transparency and validity in relation to financial plan/budget.
Each of the following statements includes a pair of words within parenthesis. Indicate which of the words should be chosen to make the statement true. The first statement is done as an example. A ( loan application / budget ) is a detailed financial plan that quantifies future expectations and actions relative to acquiring and using resources. Budgets ( should / should not ) be used to provide managers with "preapproval" for execution of spending plans. The (master budget / sales budget ) is a comprehensive document specifying sales targets, production activities, and financing actions. "Responsibility accounting" is a concept under which managers are held accountable for transactions and events ( beyond / under ) their direct influence and control. Some entities will follow a top-down( mandated / participative ) approach to budgeting. A deliberate effort to create "breathing room" within a budget is known as ("padding the budget" / "aerating" ). With ( incremental budgeting /…
describe the roles of fi nancial reporting and fi nancial statement analysis;
Which of the following is an operating budget? A. cash budget B. production budget C. tax budget D. capital budget
Which of the following is a use of budgets for control? *A. plans can be made for the futureB. communication is improvedC. if conditions change between the formation of the budget and the current time, budgets can be quickly adaptedD. budgets set a standard against which results can be compared
How to calculate WACC

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Standards at times are referred to as: A. estimates B. budgets C. actual D. A&B E. all of these