5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate performance. B. It uncovers drawbacks of department performance C. It reduces the need to track the actual cost activity. D. It formalizes a manager's planning efforts.
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Q: 5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate…
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Q: Which of the following is not a benefit of budgeting? a. It sets some standards to evaluate…
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Q: Help question 11
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A: Please see the next step for the solution
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Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…
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- Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing performance evaluations D. preventing net operating lossesWhich of the following is true in a bottom-up budgeting approach? Every expense needs to be justified. Supervisors tell departments their budget amount and the departments are free to work within those amounts. Departments budget their needs however they see fit. Departments determine their needs and relate them to the overall goals.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 of the following is not an advantage of budgeting? a) Forces managers to planb) Provides information for decision makingc) Guarantees an improvement in organizational efficiencyd) Provides a standard for performance evaluatione) Improves communication and co-ordinationWhich of the following is not a benefit of budgeting? It allows for coordination between different departments within a firm. It compels managers to develop objectives and to plan allocating resources to achieve the objective. It provides performance evaluation and feedback. It reduces the need for analysis with regard to company expenses.Which of the following statements are TRUE? I. Responsibility accounting attempts to assign blame for problems to a specific manager.II. One benefit of a budget is that it helps managers gather relevant information for improving future performance.III. Challenging budgets tend to motivate improved performance.IV. Controllability may be difficult to pinpoint because some costs are the result of the market, not the manager.
- Which one of the following is related to the decision making function of management: O a. Establishing goals O b. Choosing among alternatives O c. None of the given answers O d. Budgeting O e. Performance reports6. A difference between standard costs used for cost control and budgeted costs a)Can exist because standard costs represent what costs should have been while budgeted cost represent expected actual costs. b)Can exist because established budgeted costs involve employee participation and standard cost do not c)Can exist because standard cost must be determined after the budget is prepared. d)Can exist because budgeted costs should be verified first by actual activities while standard cost are based on project costs.Which one of the following is related to the decision making function of management a. Performance reports b. Budgeting c. Choosing among alternatives d. None of the given answers e. Establishing goals
- Answer with logical reasoning. Give an example where needed i. How management accounting and cost accounting can be an efficient in monetary and non-monetary report management as compared to financial accounting reporting system. ii. How flexible budget through performance reporting is help for the management in determination of direct material cost control?All of the following is related to the controlling function of management except: a. Performance reports b. Gathering feedback c. None of the given answers d. Establishing goals e. Comparison between actual and budgeted resultsWhich of the following statements are TRUE? 1. Responsibility accounting attempts to assign blame for problems to a specific manager. 11. One benefit of a budget is that it helps managers gather relevant information for improving future performance. III. Challenging budgets tend to motivate improved performance. IV. Controllability may be difficult to pinpoint because some costs are the result of the market, not the manager. a) I, III, and IV are true. b) I and IV are true c) II, III, and IV aregrue. d) All statements are true