What is true of budgets?
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- Why is a clear understanding of managements goals and objectives necessary for effective budgets?Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing performance evaluations D. preventing net operating lossesIf management is being evaluated on their ability to manage a budget, what can they do to increase cash flow?
- If management is being evaluated on their ability to manage a budget, what can they do to decrease cash outflow?Why might a rolling budget require more management participation than an annual budget?Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgeting
- How would a human resources department use information in the operating budgets?Which of the following statements is true? All organizations are required to budget. Budgets are a quantitative expression of an organization’s goals and objectives. Budgets should never be used to evaluate performance. All organizations have the same set of budgets.Which of the following is NOT an objective of the budgeting process? Group of answer choices a - To communicate management's plans throughout the entire organization b - To ensure that the company continues to grow. c - To uncover potential bottlenecks before they occur d - To provide a means of allocating resources to those parts of the organization where they can be used most effectively.
- Explain what you understand by Budgets, Fixed Budgets and Flexible Budgets in the context of control and performance evaluation of an organization of your choice.Which one of the following is not considered to be a benefit of participative budgeting? When managers set the final targets for the budget, top management need not be concerned with the overall profitability of current operations. Managers are more motivated to reach the budget goals because they participated in setting them. Individuals at all organizational levels are recognized as being part of the team; this results in greater support of the organization. The budget estimates are prepared by those in direct contact with various activities.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?
