19. What is a budget?

a) a plan for the future income and expendituresb) a plan for the past income and expenditures

c) a plan for the future assetsd) a plan for the past liabilitiese) a plan for the future salaries

20. The budget of a company helps to control the following costs:

a) maintenance costsb) advertising costsc) material costsd) wagese) all of the mentioned costs

Indicate whether the statements 21 - 23 are true or false:

21. The values of a budget are estimations which are the outcomes of statistical analysis and logical conclusions on historic data and events.

a) trueb) false

22. Unattainable budgetary standards should be encouraged.

a) trueb) false

23. Departmental budgets need a high level of coordination among the employees of the same and of other departments.

a) trueb) false

The following case is related to questions 24-25:

Projected sales units of XYZ Corporation are as follows:

I. Three Months

II. Three Months

III. Three Months

IV. Three Months

Product C

15

10

5

20

Target sales price for Product C: 5 TL/unit

24. What is the projected total amount of units which will be sold in the year?

a) 5 unitsb) 10 unitsc) 20 unitsd) 50 unitse) 80 units

25. What is the projected total sales income of the year?

a) TL 50 b) TL 100c) TL 150d) TL 200e) TL 250