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1. A budget can facilitate the coordination of activities among the segments of a large company. Select One True False Q 2. The longer the budget period, the more reliable the estimates of future outcomes Select One True False Q 3. The budget committee has the responsibility of coordinating the preparation of the budget Select One True False Q 4. The budget is developed within the framework of a sales forecast Select One True False Q 5. Budgetting and long range planning are two terms that describe the same process Select One True False Q 6. Long range plans are used more as a review of progress toward long-term goals rather than an evaluation of specific results to be achieved Select One True False Q 7. The master budget consists of operating and financial budgets Select One True False Q 8.A budget is a substitute for management Select One True False Q 9. Accounting generally has the responsibility for setting company goals

Select One True False Q10. Budget are used in performance evaluation Select One True False Q11. Budget are useful in the planning process because it help to communicate goals and provide a basis for evaluation Select One True False Q 12. A common starting point in the budgeting process is to start with analysing thr past performance Select One True False Q 13. It is important tha the budget to accepted by supervisors only Select One True False Q 14 If budgets are to be effective, there must be an organisational structure with clearly defined lines of authority and responsibility Select One True False Q 15. Budgetting are usually associated with planning, directing , motivating and controlling managemnt function.

Select One True False