1 point

A budget is defined as

a financial and / or quantitative statement prepared prior to a defined period of time of the policy to be pursued during that period for the purpose of attaining a given objective

a financial and / or quantitative statement prepared and approved prior to a defined period of time of the policy to be pursued during that period for the purpose of attaining a given objective

a financial and / or objective statement prepared and approved prior to defined period of time of the policy to be pursued during that period for the purpose of attaining a given objective

a financial and / or quantitative statement prepared and approved for a defined period of time of the plan to be pursued during that period for the purpose of attaining goals for the department and the company as a whole

1 point

A budget which is established for forecasting expenditure is called

Fixed budget

Variable Cost budget

Profit budget

Cost budget

1 point

Which budget refers to budgeting from scratch?

Fixed budget

Flexible budget

Zero Base Budget

Scratch budget

1 point

Budget which is related to the individual task in an organization is known as

Flexible budget

Fixed budget

Long term budget

Functional budget

1 point

Which of the following can improve break-even point?

Increase in variable cost

Increase in fixed cost

Increase in sale price

Increase in sales volume

1 point

Budgetary control helps in implementation of

Ratio analysis

Marginal costing

Standard Costing

Activity based Costing