Question 26 How can a management accountant reconcile budgeted profits with the actual figures? Not yet answered Marked out of 20 Flag question O a By adding both favourable and adverse variances to budget profits O b. By subtracting all favourable variances from budgeted profits O c. By adding all favourable variances and subtract all adverse variance from budgeted profits. O d. By adding all unfavourable variances to budgeted profits Question 27 Atrill & McLaney (2019) say a budget is 'a financial plan for a future period of time". How does such a plan differ from a forecast? Not yet answered Marked out of 20 P Flag question O a. A plan is an intention to achieve. A forecast is a statement of what is expected to happen without the intervention of management O b. Both of these deal with risky future situations, so there is no difference between a plan and a forecast A plan is something that must be approved by management. A forecast is something that will happen anyway OC Od. A forecast always has a clear probability of risk attached. A plan never includes a clear probability of risk Question 28 Not yet ered Marked out of 2.0 Time left 1:36:17 Which of the following is NOT a difference between Feedback (FB) and Feedforward (FF) Budgetary Control System? Oa Use of historical book valuations for FB and update of regular market announcements for FF. O b. Periodic monitor of performance metrics for FB and the continuous monitor of lead indicators for FF Oe. The reports are usually presented in a Quarterly Business Review for FB and in a Dally Strategic Dialogue for FF Od. The nature of the Budget is flexible for FB and Fixed for FF Flag question Financial risk is the possibility of losing your hard earned cash. In investing is used as an indicator of risk? Question 29 Not yet wered Marked out of 20 O a Standard Deviation Ob. Expected Return O c. Standard Costing Od. Expected Costs question The business model of Virgin Media describes Question 30 Not yet answered Marked out of The amount of tax relief received from the government Flag Question Ob. How value is created for key customers. New deals that are negotiated with main partners Od The financial position of its stakeholders