Which of the followings forms of budgeting is preferred in sport as it begins with afloor of expenses while also using cost behavior and cost identification techniques?1) Incremental budgeting2) Program planning budgeting systems3) Zero based budgeting4) Modified zero based budgeting

Zero-based budgeting is preferred in sports because it starts from a "zero base" where all expenses…

Answered: Which of the followings forms of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 5MC: Which approach requires management to justify all its expenditures? A. bottom-up approach B....

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Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgeting
Which budget evaluates the results of operations at the actual level of activity? capĂtal budget cash budget flexible budget static budget
Focusing on improving the activities that are showing significant differences between budgeted and actual results is: A.quantifying plans B.management by exception C.cash management D.creating benchmarks
Which budget type is defined as a budget process that emphasizes the achievement of goals and competition? Target-based budgeting Program budgeting Incremental budgeting Performance budgeting
Activity-based budgeting is a budget system based on expected activities. Describe activity-based budgeting, and explain its preparation of budgets. How does activity-based budgeting differ from traditional budgeting?
Which of the following is NOT true of the budgeting process? Question 8 options: Budgeting provides feedback to management to aid in assessing how well it's reaching its goals. Budgets force managers to plan for the future. Budgets force managers to consider relations among operations across the entire value chain. The performance report is prepared as part of the master budget.
1. Describe the difference between a static and a flexible budget 2. Outline how often businesses must report GST 3. Describe a method that can be used to evaluate a budget or financial plan.
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
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 /…
What are some characteristics of performance-based budgeting? What are some advantages and disadvantages of performance-based budgeting? How does the organization you selected incorporate performance-based budgeting? If the organization you selected does not incorporate performance-based budgeting, how does the organization reflect or incorporate program outcomes to the budget? When responding to classmates, compare the organization you chose to theirs. Is one organization more successful at describing their strategic plan and aligning their budget to reflect outcomes? Why or why not?
CE Company reported the following information for 2022: Budgeted sales $1225000 . All sales are on credit. • Accounts receivable are collected 50% in the month of sale and 50% in the following month. What are budgeted cash receipts for November? $1310000 October November December $560000 $1120000 $1330000 $1120000 $1500000
Look up the definitions for the following terms: Budget (Budgeting) Capital budget (Capital Budgeting Decisions) Balanced scorecard (Balanced Scorecard and Other Performance Measures) Break-Even point (Cost Volume Profit Analysis) Provide examples of how each of these terms is used in your own life and how using these practices is useful.

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Which of the followings forms of budgeting is preferred in sport as it begins with a floor of expenses while also using cost behavior and cost identification techniques? 1) Incremental budgeting 2) Program planning budgeting systems 3) Zero based budgeting 4) Modified zero based budgeting