Which of the following describe the control aspect of the budgeting process? Please select all that apply. Rewarding the achievement of challenging targets. Checking progress towards achieving targets and objectives. Regular comparison of budgeted and actual outcomes. Investigating the causes of variations between budgeted and actual outcomes

Which of the following describe the control aspect of the budgeting process? Please select all that apply. Rewarding the achievement of challenging targets. Checking progress towards achieving targets and objectives. Regular comparison of budgeted and actual outcomes. Investigating the causes of variations between budgeted and actual outcomes

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 1MC: Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing...

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Similar questions

Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing performance evaluations D. preventing net operating losses
Which 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
Why is a clear understanding of managements goals and objectives necessary for effective budgets?
If management is being evaluated on their ability to manage a budget, what can they do to increase cash flow?
What steps should be considered it a budget is to be set and later have its results evaluated?
If management is being evaluated on their ability to manage a budget, what can they do to decrease cash outflow?
How are standards used in budgetary performance evaluation?
Which budget evaluates the results of operations at the actual level of activity? capĂtal budget cash budget flexible budget static budget
What is the process for developing a budgeted balance sheet?
Which budget is the starting point in preparing financial budgets? the budgeted income statement the budgeted balance sheet the capital expense budget the cash receipts budget
Which of the following includes only financial budgets? capital asset budget, budgeted income statement, sales budget production budget, capital asset budget, budgeted balance sheet cash budget, budgeted balance sheet, capital asset budget budgeted income statement, direct material purchases budget, cash budget