Education > EXAM > GCU ACC-240 Topic 6 Quiz (solved) (All)

GCU ACC-240 Topic 6 Quiz (solved)

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In developing a flexible budget within a relevant range of activity... - ANSWER IT IS NECESSARY TO RELATE VARIABLE COST DATA TO THE ACTIVITY INDEX CHOSEN Instead of a production budget, a merchandi... ser will prepare a... - ANSWER MERCHANDISE PURCHASES BUDGET Which of the following is not an operating budget? - ANSWER CASH BUDGET The starting point in preparing a master budget is the preparation of the... - ANSWER SALES BUDGET The direct materials and direct labor budgets provide information for preparing the... - ANSWER CASH BUDGET Which one of the following is not a benefit of budgeting? - ANSWER IT PROVIDES ASSURANCE THAT THE COMPANY WILL ACHIEVE ITS OBJECTIVES If budgets are to be effective, there must be... - ANSWER AN ORGANIZATIONAL STRUCTURE WITH CLEARLY DEFINED LINES OF AUTHORITY AND RESPONSIBILITY Under management by exception, which difference between planned and actual results should be investigated? - ANSWER MATERIAL and CONTROLLABLE Which of the following items does not follow from the adoption of a budget? - ANSWER GUARANTEE OF ACCOMPLISHING THE PROFIT OBJECTIVE The comparison of differences between actual and planned results... - ANSWER APPEARS ON PERIODIC BUDGET REPORTS A static budget is appropriate in evaluating a manger's performance if... - ANSWER ACTUAL ACTIVITY CLOSELY APPROXIMATES THE MASTER BUDGET ACTIVITY An appropriate activity index for a college or university for budgeting faculty positions would be the... - ANSWER CREDIT HOURS TAUGHT BY A DEPARTMENT Why are budgets useful in the planning process? - ANSWER THEY HELP COMMUNICATE GOALS AND PROVIDE A BASIS FOR EVALUATION [Show More]

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