Question $1$:$-$ A budget that requires management to justify all expenditures, rather than just changes from the previous year is referred to as:

a$)$ Self$-$imposed budget

b$)$ Participative budget

c$)$ Perpetual budget

d$)$ Zero$-$based budget

Question $2$:$-$ Which of the following is NOT a relevant cost to decision making?

a$)$ Opportunity costs

b$)$ Relevant benefits

c$)$ Avoidable costs

d$)$ Sunk costs

Question $3$:$-$ Which of the following is NOT considered as external factor while preparing the sales budget?

a$)$ Availability of materials or supplies

b$)$ Governmental rules

c$)$ Market fluctuations

d$)$ Competitor s success

Question $4$:$-$ Viraat is running his own personal Financial services business. He has been offered a job for a salary of Rs$.45,000$ per month which he does not availed. Rs$.45,000$ will be considered as:

a$)$ Sunk Cost

b$)$ Opportunity cost

c$)$ Avoidable cost

d$)$ Historical cost

Question $5$:$-$ The main difference between the profit center and investment center is:

a$)$ Decision making

b$)$ Revenue generation

c$)$ Cost incurrence

d$)$ Investment