The characteristics of Budgeting include all of the following except?

a.

Estimates of revenues and expenses

b.

Expected cash flows

c.

A budget is compared to actual results to calculate the variances between the two figures.

d.

All of the above are characteristics of Budgeting

e.

None of the above are characteristics of Budgeting.

2-

Which of the following users of accounting information evaluates the profitability and solvency of a company before they decide to provide money to the organisation?

a.

Employees and Trade Unions

b.

Investors and creditors

c.

Consumers and General Public

d.

Government and Regulatory Agencies

3-

James transfers his motor car into his business for the businesses use. What are the two accounts affected by this transaction?

a.

James Account and Business Account

b.

James Account and Capital Account

c.

Capital Account and Motor Car Account

d.

James Account and Motor Account