Question
please need answer now Certain budget reports are prepared monthly, whereas others are prepared more frequently depending on thr activities being monitored Select One True
please need answer now
Certain budget reports are prepared monthly, whereas others are prepared more frequently depending on thr activities being monitored
Select One True False
A static budget is one that is geared to one level of activity
Select One True False A static budget is changed only when actual activity is different from the level of activity expected
Select One True False
A flexible budget is a series of static budget at different levels of activities
Select One True False Flexible budgets are not widely used in production and service industry.
Select One True False
Management by exception means the management will investigate areas where actual results differ from planned results if the items are material and controllable
Select One True False Cost centers, profit centers and investments centers can all be classified as responsibility centers
Select One True False In a responsibility accounting reporting system, as ones moves up each level of responsibility in an organisation, the responsibility reports become more summarised and show less detailed information.
Select One True False
A cost center incurs costs and generates revenues, and cost center mangers are evaluated on the profitability of their centers.
Select One True False
Most direct fixed costs are not controllable by the profit center manager
Select One True False
The manager of an investment center can improve ROI by reducing average operating assets
Select One True False
A major elements in budgetary control is the preparation of long term plans
Select One True False On the basis of the budget reports, management analyzes differences between actual and planned results; take corrective actions; and modify the future plans
Select One True False Top management's reaction to a difference between budgeted and actual sales often depends on the personality of the production manager
Select One True False
A static budget is appropriate for fixed overhead costs
Select One True False
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