Buy Planning and Budgeting Essay

Buy Planning and Budgeting Essay
Buy Planning and Budgeting Essay
1. Which of the following types of budgets would NOT be contained in i
i the master budget?
I. Operating budgets i
II. Financial budgets
(A) Lonly |
(B) II only
(C) Both I and II i
(D) Neither I nor II
122. Which of the following would be found in the operating rather than
; the financial budget? i
I. Pro forma income statement
II. Capital expenditures budget
(A) I only (B) II only
} (C) Both I and II i
34 ) McGraw-Hill Education 500 Business Environment and Concepts Questions
123. Which of the following budgets is/are generally produced BEFORE the
sales budget?
I. Production budget
II. Cash budget
(A) I only
(B) II only
(C) Both I and II
(D) Neither I nor II
Buy Planning and Budgeting Essay
In the budgeting process, which of the following is/are prepared after the
cash budget?
I. Sales budget
II. Pro forma financial statements
(A) I only
(B) I only
(C) Both I and II
(D) Neither I nor II
Which of the following budgets is prepared independently of the
sales budget?
(A) Production budget
(B) Selling and administrative budget
(C) Cash budget
(D) Capital expenditures budget
Which of the following budgets are appropriate for planning because they
involve both fixed and variable costs?
I. Flexible budgets
II. Static budgets
) Lonly
) IL only
) Both I and II
) Neither I nor II
127. A static budget
I. is based on costs at one level of output
Il. includes budgeted costs for actual and budgeted output
A) lonly
B) I only
C) Both I and II
D) Neither I nor II
Planning and Budgeting <¢ 35
128. The annual business plan typically begins with operating budgets driven
by which of the following?
(A) Financial budgets
(B) Production budgets
(C) Personnel budgets
(D) Sales budgets
129. Of the four budgets listed, what is the proper order in which they
are prepared?
I. Cash disbursements budget
II. Production budget
HI. Direct materials budget
IV. Sales budget
(B) elVel atid
(Che TVs
130. What are sales forecasts based upon?
I. Past patterns of sales
II. Changes in the firm’s prices
UI. Results of market research studies
(A) Land II
(B) I, II, and III
(C) IL and III
(D) Land III
131. What is the required unit production level given the following factors?
Projected sales 2,000
Beginning inventory 185
Desired ending inventory 220
Prior-year beginning inventory 30
(A) 1,965 units
(B) 2,035 units
(C) 1,995 units
(D) 1,935 units
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