1An interrelated set of budgets for a future period is known as:

a master budget.

a combined budget.

a program budget.

an assembly of budgets.

Save for Later

2

Applicable budgets for an accounting firm are likely to include:

budgeted balance sheet.

expenses budget.

labour budget.

each of the above budgets.

3 The authoritarian style of budgeting can lead to:

unit managers taking very little ownership of the budget.

unattainable targets.

demotivation of employees.

all of the options listed.

4

T. Bailey Pty Ltd is planning to purchase equipment costing $45 000. The planned delivery date is 11 April with settlement on that date. On 17 January, T. Bailey Pty Ltd paid a deposit of $15 000. The amount that will appear in the cash budget for the quarter ending 31 March is:

$0. No cash flows are recorded until settlement date.

outflow of $30 000.

outflow of $15 000.

outflow of $45 000.