Scribd Logo
Upload

Welcome to Scribd!

  • 44 views

    Prayfa Sae-Tae - Chapter 33 Test Questions & Answer Key

    Uploaded by

    Ringle Job
    Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Prayfa Sae-Tae - Chapter 33 Test Questions & Answer Key

    Uploaded by

    Ringle Job
    44 views3 pages
    Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    44 views3 pages

    Prayfa Sae-Tae - Chapter 33 Test Questions & Answer Key

    Uploaded by

    Ringle Job
    Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test Unit Test

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 3

    Name: ___________________________________ Date: _______________ BUS G12 Score: ____/30

    UNIT TEST CHAPTER 33 BUDGET

    Clearly explain in your own understanding the following items and give example/s to clarify your claims about
    the topic. Do not “beat around the bush” but instead be specific (detailed) and go direct to the point.

    1. Define and describe Budget in business.

    2-3. Fill in the blank: Budgeting ______ for the future, and _______ problems and solutions

    4. What are the 2 key types of budget?

    5. Formula to calculate the sales revenue budget.

    6. True or False. Production budget includes sales volume budget.

    7. What is an acronym for Zero-based budget?

    8. What is Zero-based budget related to?

    9-10. Identify one advantage and one disadvantage of zero-based budgeting.

    11-13. Name the stages in the control process. (Hint: there are 3 stages)

    14. Define variance (in budgeting).

    15. When are variances usually calculated?

    16. State the two variances a business can have.

    17. What is the most important type of variance? Why?

    18-20. State at least 3 difficulties of budgeting.


    Answer Key

    1. Budgeting is a financial plan that is agreed in advance which shows the planned outcome
    business hopes to achieve and shows the money needed for spending and how budgeting
    should be financed. It is not a forecast but a plan.

    2-3. plans; anticipates

    4. Sales budget, Production budget

    5. Sales revenue budget = planned sales volume x price of each product

    6. False

    7. ZBB

    8. Opportunity cost

    9-10.
    Advantages:
    ● Allocation of resources should be improved

    ● Questioning attitude occurs which helps reduce unnecessary costs and eliminates inefficiency

    ● Staff motivation improve

    ● Encourages workers to find alternatives

    Disadvantages:
    ● Time-consuming - budgeting process includes collecting and analyzing detailed information

    ● Skillful decision making required

    ● Can affect motivation - threatens existing wat in which the business is run

    ● Managers may not be prepared to justify spending on certain costs → causing money to may not be allocated

    11-13. Preparation of plans, comparison of plans with actual results, analysis of variances

    14. The difference between the figure the business has budgeted for and the actual figure.

    15. At the end of the budget period, when actual figures are shown.

    16. Favorable variance, adverse variance

    17. Profit variance. Because it’s influenced by all other variances. A change in any other variances will affect
    the profit because all variances are related to cost or revenue which both affects profit levels.

    18-20.
    ● Setting budgets
    ● Motivation
    ● Manipulation
    ● Rigidity
    ● short-terminism

    You might also like